RentoMojo Files RHP, Reduces Offer for Sale Component

Furniture and appliance rental startup RentoMojo has filed its red herring prospectus (RHP) with the Securities and Exchange Board of India (SEBI), months after receiving regulatory approval for its initial public offering (IPO).

The company aims to raise ₹150 crore (approximately $18 million) through a fresh issue of shares, according to the RHP filing. RentoMojo has also reduced the size of its offer for sale (OFS) component to up to 27 million shares, down from the previously proposed 28.4 million shares.

Investors including Accel, Chiratae Ventures, and Edelweiss Mutual Fund are among those planning to sell shares through the OFS. Co-founder Geetansh Bamania will also offload a portion of his shares as part of the issue.

The IPO is scheduled to open for subscription on September 9 and close on September 11. Proceeds from the fresh issue are earmarked for expanding RentoMojo's offline presence, establishing new warehouses, repaying certain borrowings, and for general corporate purposes.