Rentomojo IPO Set To Hit Dalal Street With ₹1,256-Crore Issue, Price Band Fixed At ₹384-404 Per Share
Rentomojo IPO will open on September 9 with a Rs 384-404 price band. The Rs 1,256-crore issue includes a Rs 150-crore fresh issue and a major OFS.
Geetansh Bamania, Chairperson, Managing Director and Chief Executive Officer, Rentomojo Limited |
New Delhi: Online furniture and appliance rental platform Rentomojo is gearing up for its stock market debut, setting a price band of Rs 384-404 per share for its Rs 1,256-crore initial public offering.
The Rentomojo IPO will open for public subscription on September 9 and close on September 11. Anchor investors can place their bids on September 8.
Rentomojo IPO Details
The public offering includes a fresh issue of shares worth up to Rs 150 crore and an Offer for Sale (OFS) of 2.36 crore shares.
At the upper end of the Rentomojo IPO price band, the OFS is valued at around Rs 1,106 crore, taking the overall issue size to Rs 1,256 crore.
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Several existing investors will sell shares through the OFS, including Accel India IV (Mauritius), Edelweiss Discovery Fund, IDG Ventures India Fund III, ValueQuest S.C.A.L.E. Fund and Chiratae Trust.
Founder Geetansh Bamania is also among the selling shareholders.
Where Will Rentomojo Use the Money?
Proceeds from the fresh issue will primarily be used to repay debt and meet lease rentals or licence fees for warehouses and experience stores. A portion will also go towards general corporate purposes.
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Founded by Bamania, Rentomojo operates a technology-driven Direct-to-Consumer platform offering furniture and home appliances on rental and subscription.
According to a Redseer report cited in its draft papers, Rentomojo held an estimated 42-47% share of India’s organised online furniture and appliance rental market by subscription revenue in FY2025.
Rentomojo shares are scheduled to list on the BSE and NSE on September 17.
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