RentoMojo Raises ₹376 Crore From Anchor Investors Before IPO

Furniture and appliance rental platform RentMojo has secured approximately ₹376.1 crore in funding from anchor investors in anticipation of its planned initial public offering (IPO). The company is set to open its IPO for subscription on September 9.

In a regulatory filing, RentMojo stated that it allocated 9.31 million equity shares to 41 anchor investors at ₹404 per share, the upper end of its IPO price band. Key participants in the anchor round included Kotak Mahindra Trustee, Edelweiss, Invesco, and HDFC.

Domestic mutual funds were significant participants, acquiring over 60% of the anchor allocation, amounting to approximately ₹244.1 crore. Five life insurance companies also invested, purchasing shares worth about ₹51 lakh.

RentoMojo's public issue will consist of a fresh issue of shares worth up to ₹150 crore and an offer for sale of up to 2.7 crore shares. The IPO price band has been set between ₹384 and ₹404 per share, potentially valuing the startup at around ₹4,206 crore at the higher end.

The company intends to use the proceeds from the IPO to repay borrowings, cover rental fees for its offline stores, and for general corporate purposes. Founded in 2014, RentoMojo operates a subscription-based rental service for furniture, appliances, and home essentials across 29 cities, with a product portfolio of 8.5 lakh items as of March 2026. In the fiscal year 2026, RentMojo reported a profit after tax of ₹104.2 crore on operating revenue of ₹387 crore.