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Ahead of the commencement of the bidding for its public issue on September 9, furniture and appliance rental platform RentMojo has raised nearly ₹376.1 Cr from anchor investors. In a filing with the exchanges, the startup said that it allotted 93.1 Lakh equity shares to 41 anchor investors at ₹404 apiece, the upper end of its IPO price band. Sixteen domestic mutual funds lapped up 60.4 Lakh shares worth nearly ₹244.1 Cr via a total of 30 schemes, accounting for 32.68% of the total anchor allocation. In addition, five life insurance companies picked up 12.6 Lakh shares for a sum of ₹51 Lakh. “... Out of the total allocation of 93,08,667 equity shares to the anchor investors, 60,41,249 equity shares were allocated to 16 domestic mutual funds applying through 30 schemes…,” said the startup in a filing with the exchanges. The anchor round saw participation from Kotak Mahindra Trustee, Edelweiss, Invesco, HDFC, Motlal Oswal, Bajaj Finserv, JM Financials, ICICI Prudential, among others. RentoMojo’s public issue comprises a fresh issue of shares worth up to ₹150 Cr and an offer for sale (OFS) of up to 2.7 Cr shares. It has also set a price band of ₹384-₹404 apiece for its upcoming IPO which will value the startup at nearly ₹4,206 Cr (about $445.1 Mn) at the upper end of the spectrum. RentoMojo’s IPO will now open for subscription on September 9 (Wednesday) and close on September 11 (Friday). This comes five months after the startup first filed its draft red herring prospectus (DRHP) with Securities and Exchange Board of India (SEBI) for its IPO. RentoMojo then received the market regulator’s approval to float its public issue in July this year. The startup plans to utilise the fresh proceeds to repay or prepay certain borrowings, pay rental fees for its offline stores, and for general corporate purposes. Founded in 2014 by Geetansh Bamania and Ajay Nain, RentoMojo operates a platform for subscription-based rental of furniture, appliances and home essentials. It claims to operate 20 warehouses and 82 offline stores across 29 cities. It had a portfolio of 8.5 Lakh products across furniture and appliances at the end of March 2026 and catered to 2.5 Lakh active users in FY26. On the financial front, RentoMojo’s restated profit after tax (PAT) zoomed nearly 142% YoY to ₹104.2 Cr in FY26, aided by a tax credit of ₹36.6 Cr. Meanwhile, operating revenue soared 45.5% to ₹387 Cr in the fiscal under review compared to ₹266 in FY25.
document fetched 2026-09-09 13:54 · canonical https://inc42.com/buzz/ipo-bound-rentomojo-nets-%e2%82%b9376-cr-from-anchor-investors