Rentomojo IPO: Furniture rental platform to launch public issue on September 9; check key details

Accel India-backed Rentomojo, the Bengaluru-based furniture and appliance rental platform, will open its Rs 1,255-crore initial public offering for public subscription on September 9, with a price band of Rs 384-404 per share. At the upper end of the price band, the company is seeking a market capitalisation of Rs 4,006.2 crore.

The anchor book will open for a day on September 8, while the issue will close on September 11. Share allotment is expected to be finalised by September 15, and the company’s shares are likely to start trading on the stock exchanges from September 17, according to the offer programme.

The IPO comprises a fresh issue of shares worth up to Rs 150 crore and an offer-for-sale of 2.73 crore equity shares worth Rs 1,105.5 crore by existing shareholders. The selling shareholders in the offer-for-sale include Accel India, Edelweiss, IDG Ventures India, ValueQuest, Madison India and GMO, along with promoter Geetansh Bamania. The company has also reserved shares worth Rs 2 crore for employees, who will get them at a discount of Rs 20 per share to the final offer price.

Half of the net issue size, excluding the employee portion, has been reserved for qualified institutional buyers, while 35 per cent has been allocated to retail investors and 15 per cent to non-institutional investors. Geetansh Bamania holds a 13.37 per cent stake, while Accel India holds a 12.71 per cent stake post-issue. It is followed by Chiratae Ventures with 7.68 per cent, Edelweiss Discovery Fund with 7.42 per cent, and ValueQuest with 6.02 per cent.

Rentomojo said it will use Rs 70 crore from the net fresh issue proceeds to repay certain debt, against total borrowings of Rs 258.3 crore as of June 2026. A further Rs 42.5 crore will be used towards lease rentals or licence fees for its warehouses and experience stores, while the remaining amount will go towards general corporate purposes.

Founded by Geetansh Bamania, Rentomojo operates a technology-driven, direct-to-consumer online rental and subscription platform for furniture and appliances in India. As of March 2026, it had 20 warehouses and 82 experience stores, all operating on a leasehold basis. The company, which says it is the largest online rental and subscription platform for home furniture and appliances based on live subscribers, reported a profit of Rs 104.2 crore for the financial year ended March 2026, up from Rs 43.1 crore a year earlier, while revenue rose 45.5 per cent to Rs 387 crore from Rs 266 crore.

Motilal Oswal Investment Advisors, Axis Capital and IIFL Capital Services are the merchant bankers to the issue. The IPO will open on September 9 with a price band of Rs 384-404 per share, combining a fresh issue and an offer-for-sale, with part of the proceeds set aside for debt repayment and lease-related payments.