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Milestone · Commerce & Consumer Brands

RentoMojo launches IPO with ₹1,255.57 crore offering and 72.88 times oversubscription

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RentoMojo logo
Date
Company
RentoMojo
What it does
furniture and appliance rental platform
Kind
Milestone
Stage
growth
Based in
Bengaluru
Sector
Commerce & Consumer Brands

What they do

RentoMojo is an online furniture and appliance rental platform operating in India with 82 physical stores as of March 2026

What happened

The company raised ₹1,255.57 crore through its IPO, which was oversubscribed 72.88 times, with strong demand from all investor categories

Why it matters

RentoMojo has a 55% market share by subscribers and 42-43% by revenue in the organised rental industry, with 253,825 live subscribers as of March 2026

The details

  • RentoMojo launched an IPO with a fundraising target of ₹1,255.57 crore, which was oversubscribed 72.88 times on the final day of bidding.
  • The IPO price band was set at ₹384-404 per share, with a grey market premium of around ₹142, implying a 35.15% premium over the issue price of ₹404.
  • The company is an online furniture and appliance rental platform with 82 physical stores across 29 cities in India as of March 2026.
  • RentoMojo has a 55% market share by subscribers and 42-43% by revenue in the organised rental industry, with 253,825 live subscribers as of March 2026.
  • The company reported ₹170 crore in cash flow from operations last year, which helped fund its 45% growth in the previous year.

The bigger picture

  • The IPO was oversubscribed 72.88 times, indicating strong investor confidence in RentoMojo's growth potential and market position.
  • RentoMojo's business model focuses on asset utilization and long-term value, with a repeat rate of 45% among users and 70% of traffic being organic.
  • The company's core customers are working professionals earning ₹30,000-₹40,000 per month, particularly those living in rental homes.

About the business

  • RentoMojo is an online furniture and appliance rental platform that allows customers to rent designer furniture, gadgets, and appliances at a fraction of their retail value.
  • The company operates through both its mobile application and 82 physical stores across 29 cities in India, including major cities like Bangalore, Mumbai, Delhi, Chennai, Pune, Hyderabad, Gurgaon, and Noida.
  • The company's business model is based on a multi-cycle asset model, where furniture and appliances are rented out repeatedly, with utilisation and useful life as key metrics.

What happens next

  • RentoMojo is expected to list on the BSE and NSE on September 17, 2026.

The deal

Type
ipo

Founders

  • Geetansh Bamania, Chairperson, Managing Director and CEO

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