RentoMojo IPO Oversubscribed 17 Times on Final Day
RentoMojo's initial public offering (IPO) closed with a subscription rate of 17.18 times its offered shares. Non-institutional investors showed the strongest demand.
The initial public offering (IPO) for RentoMojo, an online platform specializing in furniture and appliance rentals, concluded with significant investor interest, reaching a subscription level of 17.18 times the number of shares offered. The final day of bidding saw a surge in demand, particularly from non-institutional investors (NIIs) who subscribed their allocated portion 42.54 times.
The total public issue amounted to ₹1,255.57 crore, comprising a fresh issue of ₹150 crore and an offer for sale (OFS) of up to 2.73 crore shares valued at ₹1,105.57 crore. Prior to the public offering, RentoMojo had raised approximately ₹376.1 crore from anchor investors.
Proceeds from the fresh issue are earmarked for repaying or prepaying certain borrowings (₹70 crore), covering rental or license payments for offline stores and warehouses (₹42.5 crore), and for general corporate purposes. The company is scheduled to list on stock exchanges on September 17.
Founded in 2014 by Geetansh Bamania and Ajay Nain, RentoMojo operates a subscription-based model for home essentials. The company reported operating revenue growth of 45.5% to ₹387 crore in FY26, with profit after tax nearly doubling to ₹104.3 crore from ₹43.1 crore in FY25. RentoMojo claims to operate 20 warehouses and 82 offline stores across 29 cities in India.