Rentomojo IPO opens: Should you subscribe? Check price band, latest GMP, reviews, key risks & more

The initial public offering (IPO) of Rentomojo opens for subscription today. The Rs 1,256 crore IPO comprises a fresh share sale of Rs 150 crore and an offer-for-sale (OFS) of up to 2.84 crore shares worth Rs 1,106 crore. Here are the key details of Rentomojo IPO:

What does Rentomojo do?
Incorporated in 2012, Bengaluru-based Rentomojo is an online rental and subscription platform offering furniture, appliances and other home essentials. The company operates a full-stack asset lifecycle model covering procurement, refurbishment, servicing, reverse logistics and redeployment. As of March 31, 2026, it had more than 2.5 lakh live subscribers across 29 cities.

How much Rentomojo raised from anchor investors ahead of its IPO?
Ahead of its IPO, Rentomojo raised Rs 376.07 crore from over 40 anchor investors as it allocated 93,08,667 shares for Rs 404 apiece. Its anchor book included names like Kotak MF, HDFC MF, Goldman Sachs, Blackrock Global Funds, Aditya Birla Sun MF, Mirae Asset MF, Bandhan MF, Edelweiss Trusteeship Company, HSBC MF, Invesco India MF, Helios MF, Bajaj Life Insurance, ITI MF, JM Financial MF and more.

What are the objectives of fresh share sale in Rentomojo IPO?
The company plans to utilise Rs 70 crore from the fresh issue towards repayment/prepayment of borrowings and Rs 42.5 crore towards lease rentals or licence fees for warehouses and experience stores. The remaining proceeds will be used for general corporate purposes.

What is the financial performance of Rentomojo?
Rentomojo reported revenue of Rs 386.99 crore and net income of Rs 67.66 crore in FY26, compared with revenue of Rs 265.96 crore and net income of Rs 43.11 crore in FY25.

What is the valuation demanded by Rentomojo IPO?
At the upper end of the price band, Rentomojo is valued at a market capitalisation of around Rs 4,006 crore. The IPO is valued at around 38-40 times FY26 earnings on a pre-issue basis.

What is the latest grey market premium (GMP) for Rentomojo IPO?
Last heard, Rentomojo IPO was commanding a grey market premium of around Rs 115 per share, suggesting a premium of nearly 28 per cent over the upper price band. GMP is an unofficial indicator and can change before listing.

When will the allotment for Rentomojo IPO be finalised?
Rentomojo IPO will open on September 9 and close on September 11. The basis of allotment is expected to be finalised on September 15, while refunds and credit of shares are likely on September 16. Shares are scheduled to be listed on both NSE and BSE on September 17.

Who are the leading managers and registrar of Rentomojo IPO?
Motilal Oswal Investment Advisors, Axis Capital and IIFL Capital Services are the book-running lead managers, while KFin Technologies Ltd is the registrar of the issue.

What are the key positives for Rentomojo IPO?
Top brokerage firms have cited Rentomojo's market leadership, recurring revenue visibility, strong growth, improving operating leverage, full stack business model, high asset utilization, healthy returns, structural industry tailwinds, expansion opportunity, and debt reduction as key positive for the company.

What are the key concerns or risk factors for Rentomojo IPO?
However, they have cited capital intensive business model, default risk, geographical concentration, high valuation, lower profitability of adjusted basis, asset utilization risk, supply chain constraints, large OFS portion, lack of valuation benchmark as top risks for the investors.

What brokerage firms have to say on Rentomojo IPO?
Brokerage firms including BP Equities, Canara Bank Securities, SBI Securities and Ventura have a 'subscribe' rating for the issue. However, Arihant Capital Markets, Swastika Investmart and SMC Global Securities remain 'neutral' on Rentomojo IPO.