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RentoMojo IPO Oversubscribed 72x: Investors Flock to Rental Platform
11 Sep
Summary
- RentoMojo's IPO was subscribed 72.87 times by investors.
- Qualified institutional buyers showed the strongest demand.
- The company is seeking a valuation of $444 million at the IPO's upper price.
The Initial Public Offering (IPO) for furniture and appliance rental service RentoMojo garnered significant investor interest, closing with a subscription rate of 72.87 times its offered shares.
On the final day of bidding, the qualified institutional buyers' portion saw a remarkable 177.3 times subscription, highlighting strong confidence from major investors. The non-institutional investor category was subscribed 67.92 times.
RentoMojo's IPO, which opened on September 9, 2026, is valued at Rs 1,256 crore. It consists of a fresh issuance of Rs 150 crore and an offer for sale totaling Rs 1,105.6 crore from existing shareholders.
Prior to the public offering, RentoMojo successfully raised Rs 376.07 crore from anchor investors, including prominent domestic mutual funds and insurance companies. This strategic fundraising sets the stage for the company's upcoming listing.
Founded in 2014 and based in Bengaluru, RentoMojo offers subscription-based rentals for furniture and appliances, competing with similar platforms. The company is targeting a valuation of approximately $444 million at the IPO's upper price band.
Financial performance for FY26 shows robust growth, with revenue from operations increasing by 45.5% to Rs 387 crore and profits surging by 142% to Rs 104 crore. These proceeds will be allocated towards debt repayment and other corporate initiatives.
The shares are expected to be listed on the NSE and BSE on September 17, 2026, marking a significant milestone for the rental solutions provider.
