Rentomojo IPO sets price band at ₹384 to ₹404 per share; check lot size, objectives and key dates

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

The initial share sale is a combination of a fresh issue of shares worth ₹150 crore and an offer for sale (OFS) of 2.73 crore shares totalling ₹1,105.57 crore.

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

The fresh issue proceeds will be used for debt clearance, payment of lease rental and licence fees for its experience stories and warehouses and corporate general purposes.

Rentomojo IPO lot size

Investors can apply for a minimum of 37 shares and in multiples thereafter. Half of the net offer will be reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

Rentomojo IPO allotment and listing date

Founded by Geetansh Bamania, Rentomojo operates a technology-driven, full-stack direct-to-consumer platform providing rental and subscription services for home appliances and furniture in the domestic market.

It is the largest player in the organised online rental segment for furniture and appliances, holding an estimated market share of 42-47% on the basis of subscription revenue in the financial year 2024-25.

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