Rentomojo IPO Day 1: Check subscription status, price band, lot size and key dates

Online furniture and appliance rental platform Rentomojo Ltd's ₹1,255.57 crore initial public offering opened for subscription on September 9. The issue, with a price band of ₹384 to ₹404 per share, will conclude on September 11.

The initial share sale is a mix of a fresh issuance of 37.15 lakh shares valued at ₹150 crore and an offer for sale (OFS) component of ₹1,105.57 crore.

Under the OFS, Accel India IV (Mauritius) Ltd, IDG Ventures India Fund III LLC, ValueQuest S.C.A.L.E. Fund, Edelweiss Discovery Fund - Series I, Chiratae Trust, TM Naigama Investment Manager LLP, Madison India Opportunities V VCC, Geetansh Bamania, GMO GFF Ltd Partnership, Renaud Laplanche and GMO Payment Gateway Inc will offload their stake.

The company intends to use fresh issue proceeds for debt repayment, lease rental or licence fee payment for its warehouses and experience stores, and for general corporate purposes.

Rentomojo IPO Day 1: Subscription status

The subscription details for Day 1 of the issue will be available post 10 am.

A lot consists of 37 shares and in multiples thereafter. Half of the net offer is reserved for qualified institutional buyers, 15% for non-institutional investors and 35% for retail investors.

Before the IPO, the company raised ₹376.07 crore in the anchor round from investors, including BlackRock, Theleme Partners, Goldman Sachs, ICICI Prudential AMC, HDFC AMC, Kotak Mahindra AMC, Aditya Birla Sun Life AMC, Edelweiss, Mirae Asset, HSBC Mutual Fund, Motilal Oswal AMC, Invesco, ICICI Prudential Life, Aditya Birla Sun Life, HDFC Standard Life, Bajaj Life and Edelweiss Life.

Rentomojo IPO allotment and listing date

Rentomojo, founded by Geetansh Bamania, operates a technology-driven, full-stack direct-to-consumer (D2C) platform providing rental and subscription services for furniture and home appliances across India.

It is the largest organised online rental segment player for furniture and appliances, with an estimated market share of 42%-47% based on subscription revenue in the fiscal year 2025, as per a Redseer report cited in the draft papers.

Axis Capital Ltd, Motilal Oswal Investment Advisors Ltd and IIFL Capital Services Ltd are the issue's book-running lead managers, while KFin Technologies Ltd is the registrar.