Rentomojo IPO opens September 9: Price band set at Rs 384-404 for Rs 1,255-crore issue

New business data points to the fact that Accel India-backed Rentomojo, the Bengaluru-based furniture and appliance rental platform, has decided to open its Rs 1,255-crore IPO for public subscription on September 9, with a price range of Rs 384-404 per share.

The firm is seeking a market capitalisation of Rs 4,006.2 crore at the upper end of the price range.

Rentomojo is raising up to Rs 150 crore through a fresh offering of shares, while existing shareholders will sell 2.73 crore equity shares worth Rs 1,105.5 crore through an offer-for-sale (OFS).

Market participants Accel India, Edelweiss, IDG Ventures India, ValueQuest, Madison India and GMO, along with promoter Geetansh Bamania, will be the selling shareholders in the OFS.

Accel India is the largest shareholder after promoter Geetansh Bamania, who holds a 13.37% stake. Accel India holds a 12.71% stake post-offering, followed by Chiratae Ventures with a 7.68% stake, Edelweiss Discovery Fund with 7.42%, and ValueQuest with 6.02%.

The anchor book will open for a day on September 8, while the offering will stay open for public subscription until September 11. The IPO share allotment is anticipated to be finalised by September 15, and Rentomojo shares are likely to start trading on the bourses from September 17, according to the offer programme.

The firm has reserved shares worth Rs 2 crore for its employees, who will receive the shares at a discount of Rs 20 per share to the final offer price.

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Half of the net offering size, excluding the employee portion, has been reserved for qualified institutional buyers, while 35% of the shares have been allocated to retail market participants and 15% to non-institutional market participants.

Rentomojo, founded by Geetansh Bamania, will utilise Rs 70 crore of the net fresh offering proceeds to repay certain debt against total borrowings of Rs 258.3 crore as of June 2026.

Further, Rs 42.5 crore will be spent on the payment of lease rentals or licence fees for its warehouses and experience stores, while the remaining funds will be set aside for general corporate purposes.

Rentomojo operates a technology-fuelled, direct-to-consumer (D2C) online rental and subscription platform for furniture and appliances in India. As of March 2026, it had 20 warehouses and 82 experience stores, all of which operate on a leasehold basis.

The firm, which claims to be the largest online rental and subscription platform for home furniture and appliances based on live subscribers, noted a earnings of Rs 104.2 crore in the fiscal year ended March 2026, more than doubling from Rs 43.1 crore in the previous year. Topline during the same period increased 45.5% to Rs 387 crore from Rs 266 crore.

Motilal Oswal Investment Advisors, Axis Capital and IIFL Capital Services have been appointed as the merchant bankers managing the Rentomojo IPO.