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Furniture and appliance rental platform Rentomojo’s Rs 1,256 crore initial public offering (IPO) was subscribed 1.97X on the first day of bidding, according to data from the National Stock Exchange (NSE). Non-institutional investors (NII) led the demand, with their portion subscribed 3.87X. The employee portion was subscribed 2.09X, while the retail portion saw 2.05X subscription. In contrast, the qualified institutional buyers (QIB) portion was subscribed 0.41X on the first day. The IPO opened for subscription on September 9 and will close on September 11. Rentomojo has fixed the price band at Rs 384-404 per share. The issue comprises a fresh issue of Rs 150 crore and an offer for sale (OFS) worth Rs 1,1056 crore by existing shareholders. Founded in 2014, Bengaluru-based Rentomojo operates a subscription-based rental platform for furniture, appliances and other household products. It allows customers to rent products on monthly plans instead of purchasing them outright. The company has expanded its rental network across major Indian cities and competes with players such as Furlenco and Cityfurnish. Rentomojo reported revenue from operations of Rs 387 crore in FY26, up 45.5% from the previous year. Its profit rose 142% year-on-year to Rs 104 crore during the fiscal year. At the upper end of the IPO price band, the company is seeking a valuation of around $444 million. The fresh issue proceeds will be used towards debt repayment and other corporate purposes. The IPO is being managed by Motilal Oswal Investment Advisors, Axis Capital and IIFL Capital Services. Rentomojo shares are expected to list on the NSE and BSE on September 17.
document fetched 2026-09-11 03:01