RentoMojo Secures SEBI Approval for Initial Public Offering
Furniture and appliance rental startup RentoMojo has received approval from India's Securities and Exchange Board (SEBI) for its planned Initial Public Offering (IPO). The clearance allows the company to proceed with the listing process.
RentoMojo, an Indian startup specializing in furniture and appliance rentals, has received regulatory clearance from the Securities and Exchange Board of India (SEBI) to proceed with its Initial Public Offering (IPO). The market regulator issued its final observation letter to the company today, signifying approval for the listing.
The clearance comes more than three months after RentoMojo filed its draft IPO papers. The proposed IPO includes a fresh issue of shares worth up to ₹150 crore (approximately $18 million USD) and an offer for sale (OFS) of up to 2.84 crore shares by existing shareholders. Proceeds from the fresh issue are designated for expanding RentoMojo's offline presence, establishing new warehouses, repaying certain borrowings, and general corporate purposes.
Founded in 2014 by Geetansh Bamania and Ajay Nain, RentoMojo offers subscription-based rentals for furniture, appliances, and home essentials. As of September 30, 2025, the company operated across 22 Indian cities with 21 warehouses, managing a portfolio of over 729,000 products.
The company has also demonstrated strengthened financial performance ahead of its public debut. In the first half of fiscal year 2026, RentoMojo reported a profit after tax (PAT) of ₹61.4 crore (approximately $7.4 million USD) on operating revenue of ₹176.6 crore (approximately $21.3 million USD).
However, the IPO plans are subject to a legal dispute with co-founder Ajay Nain. Nain has alleged that he was fraudulently induced to sell his stake in 2023 at a significantly undervalued price and is seeking to block the IPO until the matter is resolved.