RentoMojo IPO Subscribed 2.82X on Second Day
Furniture and appliance rental startup RentoMojo's IPO was subscribed 2.82 times on its second day of bidding. The non-institutional investor portion was subscribed 6.13 times.
The initial public offering (IPO) of furniture and appliance rental firm RentoMojo was subscribed 2.82 times on its second day of bidding. Investors placed bids for 6.14 crore shares against the 2.18 crore shares on offer as of 12:33 IST.
Non-institutional investors (NIIs) led the demand, with their portion subscribed 6.13 times. This category received bids for 2.85 crore shares against the 46.54 lakh shares reserved for it.
The IPO aims to raise approximately ₹1,255.57 crore and comprises a fresh issue of ₹150 crore and an offer for sale (OFS) of up to ₹1,105.6 crore. Funds from the fresh issue are earmarked for repaying debt and covering operational expenses, including rental payments for offline stores and warehouses. Ahead of the IPO, RentoMojo raised nearly ₹376.1 crore from anchor investors.
Founded in 2014 by Geetansh Bamania and Ajay Nain, RentoMojo offers a subscription-based rental platform for furniture, appliances, and home essentials. The company reported a 142% year-on-year increase in net profit to ₹104.3 crore in FY26, with operating revenue growing 45.5% to ₹387 crore.