Rentomojo’s $133 Million IPO Fully Subscribed on First Day
Rentomojo’s ₹1,256 crore ($133 million) initial public offering was fully subscribed on its first day of bidding on Wednesday, marking strong investor interest in the furniture rental company. The Bengaluru-based firm aims to become India’s first listed furniture rental company.
The 12-year-old company received bids for 22.07 million shares against 21.77 million shares on offer. At the top of its ₹384–₹404 price band, Rentomojo is seeking a valuation of up to $444 million. The company operates subscription-based furniture and appliance rentals through more than 100 stores across India.
The IPO includes a fresh issue worth ₹150 crore and an offer for sale of ₹1,106 crore by existing shareholders, including Accel and Edelweiss Financial Services. Rentomojo plans to use part of the proceeds to repay debt and meet lease and licensing obligations. For the year ended March 2026, revenue rose 45.5% to ₹387 crore, while profit jumped 142% to ₹104 crore.
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