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IPO · Commerce & Consumer Brands

Rentomojo files draft prospectus for an initial public offering

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RentoMojo logo
Date
Company
RentoMojo
What it does
Furniture and appliance rental startup
Kind
IPO
Amount
₹1,100-1,200 Cr
Stage
DRHP
Based in
Bengaluru
Founded
2014
Sector
Commerce & Consumer Brands

What they do

Rentomojo operates an online subscription rental platform for home furniture, appliances, electronics, and fitness gear across multiple Indian cities

What happened

The Bengaluru-based company filed a preliminary registration document with market regulators to raise between ₹1,100 crore and ₹1,200 crore

Why it matters

The proposed public offering comprises a fresh issue of shares worth ₹150 crore alongside an offer for sale by existing institutional investors and founders

The details

  • The home goods subscription enterprise Rentomojo has formally submitted its preliminary public offering documents to the Securities and Exchange Board of India for an upcoming initial public offering.
  • The proposed share sale seeks to gather between ₹1,100 crore and ₹1,200 crore utilizing a mixture of newly issued shares and secondary share disposals.
  • The public listing contains a primary share issuance valued at ₹150 crore, while the remaining portion involves current stakeholders offloading their equity.
  • Early venture backers and institutional entities such as Accel, Chiratae Ventures, and Edelweiss Financial Services intend to reduce their holdings during this event.
  • Chief executive and founder Geetansh Bamania, who maintains slightly above a 14% ownership stake, also plans to divest part of his holdings.
  • The organization intends to direct ₹70 crore of the primary funds toward clearing outstanding debt and ₹42.5 crore toward warehouse and retail facility lease obligations.

The bigger picture

  • The enterprise has achieved a steady fiscal recovery, registering net profits across each of the preceding three financial years.
  • For the fiscal period ending in 2025, the enterprise generated operating revenue of ₹266 crore, reflecting a 38% year-over-year improvement.
  • The business previously encountered heavy commercial interruptions during the Covid-19 pandemic prior to successfully revamping its recurring rental model.

About the business

  • Rentomojo operates a subscription-based rental commerce model offering designer furniture, major appliances, smart electronics, and fitness equipment.
  • Customers pay a monthly rental installment that decreases the longer they rent items from the platform.
  • The company provides complementary customer benefits including periodic free maintenance, free relocation support, and yearly product swap options.
  • It serves customers through online digital channels as well as over 100 offline experience stores across major Indian cities.
  • Supported urban delivery locations include Bengaluru, Mumbai, Delhi, Chennai, Pune, Hyderabad, Gurgaon, and Noida.

What happens next

  • The company plans to list its shares on both the BSE and the National Stock Exchange.
  • Proceeds from the fresh issue will be utilized for debt repayment, lease rentals for warehouses and stores, and general corporate purposes.

The deal

Type
ipo

Investors

  • Accel (seller) — Early-stage venture capital fund.
  • Chiratae Ventures (seller) — Technology-focused venture capital firm.
  • Edelweiss Financial Services (seller) — Financial services group and previous funding round lead.

Founders

  • Geetansh Bamania, Founder and Chief Executive Officer

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