Upcoming IPOs: Rentomojo, Pioneer Fil-med, Intellius Recode file DRHPs with SEBI to raise funds via public offers

Upcoming IPOs: Three companies, Rentomojo, Intellius Recode and Pioneer Fil-Med, have filed draft red herring prospectuses with the market regulator, the Securities and Exchange Board of India, to raise funds via initial public offerings.

Shares of the three firms will be listed on the National Stock Exchange (NSE) and the BSE.

Rentomojo IPO

The initial share sale of Rentomojo, an online rental platform for home furniture and appliances, is a mix of a fresh issuance of shares valued at ₹150 crore and an offer for sale (OFS) component of 2.83 crore shares, as per the DRHP.

Under the OFS, Accel India IV (Mauritius), ValueQuest S.C.A.L.E. Fund, Edelweiss Discovery Fund – Series I, Madison India Opportunities V VCC, Chiratae Growth Fund – I, Geetansh Bamania, IDG Ventures India Fund III LLC, Chiratae Trust, GMO GFF Limited Partnership and GMO Payment Gateway Inc will offload their stake.

The fresh issue proceeds will be used for debt repayment, payment of lease rental/licence fee for its warehouses and experience stores and general corporate purposes.

Rentomojo runs a technology-driven, full-stack direct-to-consumer, or D2C, online rental and subscription platform for furniture and appliances in India. It is the largest player in the organised online rental segment for furniture and appliances based on live subscribers as of September 30, 2025.

Pioneer Fil-Med IPO

Railway components maker Pioneer Fil-Med Ltd's proposed IPO consists of new shares aggregating to ₹250 crore and an OFS of ₹250 crore by promoters Pioneer Facor IT Infradevelopers Private Limited and Aztech India Private Limited.

The fresh issue proceeds will be used for part-financing the cost of setting up a gearbox manufacturing unit and wind generation components manufacturing facility and general corporate purposes.

The firm may undertake a pre-IPO placement of shares aggregating up to ₹50 crore. If such placement takes place, the fresh issue component will be reduced.

Pioneer Fil-Med is a manufacturer and supplier of railway and metro equipment and allied components for the coach and locomotive applications segments in India.

Intellius Recode IPO

The proposed initial public offering of technology solutions provider Intellius Recode is a combination of a fresh issue of ₹117 crore and an OFS of 12.90 lakh shares by promoter ReCode Solutions Inc.

The fresh issue proceeds are intended for funding the cost of development of digital workers, payment of subcontracting fees for development of digital workers and general corporate purposes.

Intellius Recode is a next-generation technology solutions provider that enables digital transformation for enterprise clients. It helps large global enterprises with technology consulting and autonomous, context-aware and agentic AI-enabled products.