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Nazara Technologies founder Nitish Mittersain stands out, with his investment in the rental platform potentially delivering a 152X return based on the acquisition cost disclosed in the company’s offer documents and the upper IPO price band of Rs 404 per share. Mittersain, one of the individual shareholders participating in the OFS, holds 226,920 shares in Rentomojo, according to the offer documents. His disclosed weighted average acquisition cost is Rs 2.65 per share, with the acquisition-cost figures adjusted for the company’s subsequent share split. Of his total holding, Mittersain is selling 148,460 shares through the IPO. At the upper end of the IPO price band of Rs 404 per share, the shares being sold would be worth approximately Rs 6 crore. Based on the disclosed weighted average acquisition cost of Rs 2.65 per share, the proportionate acquisition cost of these 148,460 shares works out to around Rs 3.93 lakh. This values the shares being sold at approximately 152.45 times their disclosed weighted average acquisition cost. The gains extend across several institutional investors that backed Rentomojo in its early years. At the upper price band of Rs 404 per share, Accel India is set to generate around 8.63X returns on its Rs 317 crore OFS. Madison India will likely unlock around 7.22X on its Rs 96.9 crore share sale, while ValueQuest and Edelweiss are expected to earn around 5.4X on their respective OFS shares worth Rs 109.6 crore and Rs 116.5 crore. Prashanth Prakash, Partner at Accel, said Rentomojo represents one of those rare journeys where an early conviction has evolved into a category-defining business. He said seeing the company get listed is a deeply meaningful moment for Accel. When the firm invested in 2015, Prakash said, the shift from ownership to access was still nascent, but Geetansh had the conviction to recognise where urban India was headed. Rajeev Chitrabhanu, who was Rentomojo’s first investor, is also set to generate substantial returns from the IPO. He is looking to generate around 26.6X returns from his Rs 12.4 crore OFS. The company’s founder Geetansh Bamania is set to offload shares worth Rs 34.3 crore through the OFS. Other shareholders participating in the offer include Japan-based Mitsui Sumitomo Insurance Venture Capital (MSIVC), Pratithi Investment Trust, Renaud Laplanche and others. Rentomojo stock market debut Shares of Rentomojo made a modest Dalal Street debut on Thursday, listing at a 19% premium over the IPO price. The stock opened at Rs 482.45 on the NSE and Rs 480 on the BSE, as compared to its issue price of Rs 404. The Rs 1,255.57 crore IPO was priced at Rs 404 per share and included both a fresh issue and an offer for sale (OFS). The fresh issue comprised 37.15 lakh equity shares worth Rs 150 crore, while the OFS component consisted of 2.73 crore shares valued at Rs 1,105.57 crore. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
document fetched 2026-09-18 02:56