Rentomojo IPO
Rentomojo IPO is a Mainboard book-built issue of ₹1,255.57 crore, comprising a Fresh Issue of ₹150 crore and an Offer for Sale of up to 2.73 crore equity shares. The price band is ₹384 to ₹404 per share, with a lot size of 37 shares. The IPO is scheduled
Rentomojo IPO Details
Rentomojo IPO bidding is scheduled to start on 9 September 2026 and end on 11 September 2026. The allotment is expected to be finalized on 15 September 2026, refunds are scheduled to begin on 16 September 2026, and shares are expected to be credited to Demat accounts on the same day. The shares are proposed to be listed on BSE and NSE on 17 September 2026.
Rentomojo IPO GMP
Rentomojo IPO GMP is currently reported at around ₹0, indicating no unofficial premium over the IPO price in the grey market. At the upper price band of ₹404, a ₹0 GMP would indicate an estimated price of ₹404. GMP is an unofficial indicator and does not guarantee the actual listing price.
Rentomojo IPO Timeline (Tentative)
Rentomojo IPO is scheduled to open for subscription on 9 September 2026 and close on 11 September 2026. The basis of allotment is expected on 15 September, followed by refund initiation and credit of shares to successful applicants on 16 September. The shares are scheduled to be listed on BSE and NSE on 17 September 2026. Anchor investors are scheduled to bid on 8 September 2026.
| Event | Tentative Date |
|---|---|
| IPO Open Date | Wed, Sep 9, 2026 |
| IPO Close Date | Fri, Sep 11, 2026 |
| Basis of Allotment | Tue, Sep 15, 2026 |
| Initiation of Refunds | Wed, Sep 16, 2026 |
| Credit of Shares to Demat | Wed, Sep 16, 2026 |
| Listing Date | Thu, Sep 17, 2026 |
| Anchor Investor Bidding | 8 September 2026 |
| IPO Opens | 9 September 2026 |
| IPO Closes | 11 September 2026 |
| Basis of Allotment | 15 September 2026 |
| Refund Initiation | 16 September 2026 |
| Credit of Shares to Demat | 16 September 2026 |
| Listing Date | 17 September 2026 |
Rentomojo IPO Lot Size
The Rentomojo IPO lot size is 37 shares. At the upper price band of ₹404 per share, one lot requires a minimum investment of ₹14,948. Retail investors can apply for up to 13 lots, or 481 shares, amounting to ₹1,94,324 at the upper price band.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 37 | 14,948 |
| Retail (Max) | 13 | 481 | 1,94,324 |
| S-HNI (Min) | 14 | 518 | 2,09,272 |
| S-HNI (Max) | 66 | 2,442 | 9,86,568 |
| B-HNI (Min) | 67 | 2,479 | 10,01,516 |
Rentomojo IPO Reservation
Rentomojo IPO follows the Regulation 6(2) route, under which at least 75% of the Net Offer is reserved for Qualified Institutional Buyers, up to 15% for Non-Institutional Investors and up to 10% for Retail Individual Investors. The company is therefore offering a relatively smaller retail allocation compared with the standard 50% QIB, 15% NII and 35% retail structure used by many Mainboard IPOs.
Rentomojo IPO Subscription
Rentomojo IPO is an upcoming issue and subscription bidding has not yet started. Therefore, QIB, NII, Retail and Total subscription figures are currently not available.
| Category | Subscription (times) |
|---|---|
| QIB | N.A. |
| NII | N.A. |
| RII | N.A. |
| Total | N.A. |
About Rentomojo
Rentomojo Limited is a Bengaluru-based technology-driven direct-to-consumer rental and subscription platform focused on furniture, appliances and other household products. Instead of requiring customers to purchase products outright, the company allows them to access products through flexible monthly subscription plans.
Its product categories include furniture and household appliances such as beds, sofas, wardrobes, mattresses, refrigerators, washing machines, televisions and water purifiers. The company operates an integrated model covering product sourcing, subscription management, servicing, refurbishment, reverse logistics and redeployment of rental assets.
As of 30 September 2025, Rentomojo had 2,27,511 live subscribers across 22 cities, supported by 67 experience stores and 7,28,773 live furniture and appliance assets. The company also works with established brands including Haier, Wakefit, Livpure and Duroflex, while developing private-label products in selected categories.
Rentomojo was founded in 2012 by Geetansh Bamania, who continues to be the company's sole promoter and serves as its Chairperson, Managing Director and Chief Executive Officer.
The company has built a recurring-revenue model through monthly subscriptions. Revenue from operations increased from ₹120.10 crore in FY2023 to ₹192.70 crore in FY2024 and ₹265.96 crore in FY2025. During the same period, PAT increased from ₹4.41 crore to ₹22.41 crore and ₹43.11 crore respectively.
Strengths
- Technology-driven rental and subscription business model.
- Established presence across multiple Indian cities.
- Large live subscriber base with 2,27,511 subscribers as of 30 September 2025.
- 7,28,773 live furniture and appliance assets as of 30 September 2025.
- Consistently profitable during FY2023, FY2024 and FY2025.
- Revenue from operations grew at a strong pace between FY2023 and FY2025.
- EBITDA increased from ₹52.93 crore in FY2023 to ₹118.44 crore in FY2025.
- Unrecognised contracted revenue provides visibility into future subscription income.
- Integrated asset lifecycle covering procurement, refurbishment, servicing and redeployment.
- High asset occupancy of 83.91% during the six months ended 30 September 2025.
Risks to Consider
- Rentomojo operates an asset-intensive rental model requiring significant investment in furniture and appliances.
- Lower asset utilisation or higher asset downtime could adversely affect profitability and returns.
- Occupancy declined from 91.07% in FY2023 to 82.82% in FY2025 before improving to 83.91% in H1 FY2026.
- The company is exposed to customer payment delays, defaults and asset damage.
- Revenue is highly concentrated in major metropolitan markets, with the top 10 cities contributing 94.45% of FY2025 revenue.
- The business faces competition from traditional ownership models as well as other rental and subscription platforms.
- Rental assets require ongoing refurbishment, servicing, replacement and logistics expenditure.
- The company has significant borrowings relative to its asset-intensive operating model.
- There are no listed companies in India or globally with a comparable business model and scale, making direct valuation comparison difficult.
- H1 FY2026 PAT was materially boosted by a one-time deferred tax asset recognition of ₹32.84 crore, making the reported six-month profit less comparable with previous periods.
Rentomojo Financials (₹ Cr)
Rentomojo reported strong growth in revenue and profitability over the last three financial years. Revenue from operations increased from ₹120.10 crore in FY2023 to ₹192.70 crore in FY2024 and ₹265.96 crore in FY2025. PAT increased from ₹4.41 crore in FY2023 to ₹22.41 crore in FY2024 and ₹43.11 crore in FY2025. For the six months ended 30 September 2025, revenue from operations stood at ₹176.61 crore and PAT at ₹61.38 crore; however, the H1 FY2026 PAT included a one-time deferred tax asset credit of ₹32.84 crore.
| Period | Revenue | PAT | Total Assets | Net Worth |
|---|---|---|---|---|
| FY2023 | 120.10 | 4.41 | 178.96 | 22.22 |
| FY2024 | 192.70 | 22.41 | 366.20 | 139.61 |
| FY2025 | 265.96 | 43.11 | 449.87 | 183.61 |
| H1 FY2026 | 176.61 | 61.38 | 550.38 | 245.42 |
KPIs & Valuation
At the IPO price band of ₹384–₹404, Rentomojo is valued at approximately 38.02x–40.00x FY2026 earnings based on the diluted EPS used for the IPO valuation. Its FY2025 basic EPS was ₹4.31 and NAV was ₹17.81, while the company reported a 26.67% RoNW and 25.14% ROCE for FY2025. H1 FY2026 profitability was affected by a one-time deferred tax asset recognition.
Objects of the Issue
The ₹1,255.57 crore Rentomojo IPO consists of a ₹150 crore fresh issue and an Offer for Sale. The fresh issue proceeds are proposed to be used primarily for repayment or prepayment of certain outstanding borrowings, payment of lease rentals or licence fees for warehouses and experience stores, and general corporate purposes.
- The company proposed to utilise the fresh issue proceeds for:
- Repayment or prepayment, in full or in part, of certain outstanding borrowings and accrued interest.
- Payment of lease rental or licence fees for warehouses and experience stores.
- General corporate purposes.
- The identified portions include approximately ₹70 crore toward debt repayment and ₹42.50 crore toward lease rentals and licence fees.
Promoters, Lead Managers & Registrar
Rentomojo Limited is promoted by Geetansh Bamania. The IPO has Motilal Oswal Investment Advisors Limited, Axis Capital Limited and IIFL Capital Services Limited as the Book Running Lead Managers, while KFin Technologies Limited is the Registrar to the Issue.
Promoters
Lead Managers (BRLM)
Registrar
| Name | KFin Technologies Limited |
|---|---|
| Phone | +91 40 6716 2222 / 1800 309 4001 |
| rentomojo.ipo@kfintech.com | |
| Website | https://www.kfintech.com/ |
Rentomojo IPO Review
Rentomojo has developed a differentiated business model by combining technology, rental subscriptions and management of physical assets. The company has established a sizeable subscriber base and operates across 22 cities, giving it a meaningful presence in India's organised furniture and appliance rental market.
Its financial performance has improved considerably. Revenue from operations increased from ₹120.10 crore in FY2023 to ₹265.96 crore in FY2025, while PAT increased from ₹4.41 crore to ₹43.11 crore. EBITDA also rose from ₹52.93 crore to ₹118.44 crore during the same period.
Another positive factor is the company's recurring subscription structure. Unrecognised contracted revenue increased from ₹48.68 crore in FY2023 to ₹229.43 crore as of September 2025, providing visibility into future revenue from existing contracts.
However, the business is capital intensive because Rentomojo has to purchase and maintain the assets that it rents to customers. This means that continued growth requires substantial investment in the rental fleet. The company also needs to maintain high occupancy levels and efficient refurbishment and redeployment cycles to generate attractive returns.
The IPO valuation is another important consideration. At the ₹384–₹404 price band, the company is valued at approximately 38.02x–40.00x FY2026 earnings based on diluted EPS. This is a substantial valuation and leaves limited room for execution challenges.
Overall, Rentomojo offers exposure to India's organised rental and subscription economy, supported by revenue growth, profitability and an established operating platform. Investors should nevertheless carefully evaluate the IPO valuation, asset intensity, occupancy trends, debt levels and concentration in major cities before making an investment decision.
How to Apply
Rentomojo IPO applications can be made through ASBA or UPI-supported IPO applications.
Through UPI
- Log in to your stockbroker app or website.
- Go to the IPO section.
- Select Rentomojo IPO.
- Enter the number of lots you want to apply for.
- Select the bid price. Retail investors can generally choose the Cut-off option when available.
- Enter your valid UPI ID.
- Submit the IPO application.
- Open your UPI application when the mandate request arrives.
- Approve the mandate using your UPI PIN.
- The application amount will be blocked in your bank account. If shares are allotted, the required amount will be debited; otherwise, the blocked amount will be released.
Prospectus & Documents
Investors can refer to Rentomojo's DRHP, RHP and other IPO documents for detailed information about the company's business, financial performance, risk factors, IPO structure and utilisation of issue proceeds. The company filed its DRHP with SEBI on 27 March 2026, while the final IPO price band and issue structure were subsequently announced ahead of the September 2026 issue.
Last updated Sep 4, 2026.