loading
loading
Furniture and appliance rental platform RentoMojo’s Rs 1,256 crore IPO saw strong investor demand, with the issue subscribed 72.87 times on the final day of bidding. According to exchange data, the qualified institutional buyers (QIBs) portion led the demand, with bids worth 177.3 times the shares on offer. The non-institutional investor (NII) category was subscribed 67.92 times, followed by the employee portion at 21 times and the retail quota at 15.58 times. The IPO opened for subscription on September 9 at a price band of Rs 384-404 per share. The issue comprises a fresh issue of Rs 150 crore and an offer for sale (OFS) worth Rs 1,105.6 crore by existing shareholders. Ahead of the IPO, which opened on September 9, RentoMojo raised Rs 376.07 crore from anchor investors. The anchor round saw participation from domestic mutual funds, insurance companies, and pension funds. Key participants included Kotak, ICICI Prudential Quality Fund, Goldman Sachs, BlackRock Global Funds, HDFC Mutual Fund and others. Founded in 2014, Bengaluru-based RentoMojo operates a subscription-based rental platform for furniture, appliances and other household products. It competes with players such as Furlenco and Cityfurnish. At the upper end of the 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. RentoMojo’s revenue from operations grew 45.5% to Rs 387 crore in FY26, while its profit surged 142% to Rs 104 crore during the fiscal year. The IPO is being managed by Motilal Oswal, Axis Capital and IIFL Capital Services. RentoMojo shares are expected to list on the NSE and BSE on September 17.
document fetched 2026-09-12 02:59