Accel-Backed Rentomojo Targets $444 Million Valuation in India IPO

Accel-backed online furniture rental platform Rentomojo has set a price band of ₹384 to ₹404 per share for its initial public offering (IPO), which is set to raise around $133 million. At the upper end of the price band, the Bengaluru-based company is targeting a valuation of approximately ₹42 billion ($444.5 million).

The three-day IPO will open on September 9, with bidding by anchor investors scheduled to begin a day earlier. Rentomojo plans to issue fresh shares worth up to ₹1.5 billion, while existing investors, including Accel and the company’s founder, will sell a total of 27.4 million shares.

Rentomojo operates a subscription-based platform offering furniture, appliances and other household products for rent across 29 Indian cities. The company had 253,825 active subscribers as of March 31, 2026. Its profit surged 142% to ₹1.04 billion for the year, while revenue rose 45.5% to ₹3.87 billion. IPO proceeds will be used to repay debt and cover rental and licence fees for warehouses and experience stores.

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