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What is the story about?
The initial public offering (IPO) of Rentomojo Ltd. was subscribed 4.70 times on the second day of bidding on Thursday. The ₹1,256-crore IPO will close for subscription today, September 11.
On Day 2, the non-institutional investor (NII) portion was subscribed 11.59 times, while the retail individual investor (RII) quota was booked 4.18 times. The qualified institutional buyer (QIB) portion was subscribed 0.45 times, according to exchange data.
The IPO comprises a fresh issue of shares worth ₹150 crore and an Offer For Sale (OFS) of 2.73 crore equity shares worth ₹1,105.57 crore.
The IPO has a price band of ₹384-404 per share, with a face value of ₹1 per share.
In the grey market, Rentomojo shares are commanding a premium of ₹135 per share, implying a premium of more than 33% over the upper end of the issue price. However, grey market premiums (GMPs) are speculative and the actual listing price may differ from the levels indicated by the GMP.
At the upper end of the price band, Rentomojo is seeking a market capitalisation of ₹4,206 crore.
Motilal Oswal Investment Advisors, Axis Capital, ICICI Securities, IIFL Capital and Nuvama Wealth Management are the book-running lead managers to the issue.
About Rentomojo
Rentomojo is a direct-to-consumer online rental and subscription platform for furniture, appliances and consumer durables. Instead of making an outright purchase, customers can rent or subscribe on a monthly basis to products such as beds, mattresses, wardrobes, sofas, televisions, washing machines, refrigerators and water purifiers.
The company also provides delivery, installation, maintenance and relocation services.
As of March 31, 2026, Rentomojo had 2.53 lakh live subscribers across 29 cities and 8.51 lakh live items in its portfolio. Its omnichannel model includes an online ordering platform and 82 experience stores.
The company operates 20 warehouses with a combined area of approximately 5.4 lakh square feet.
Financial performance
Between financial year 2024 and financial year 2026, Rentomojo's revenue from operations grew at a compounded annual growth rate (CAGR) of 41.7%, from ₹192.7 crore to ₹387 crore.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) rose to ₹163.4 crore in financial year 2026 from ₹78.1 crore in financial year 2024.
However, the company's financial year 2026 Profit After Tax (PAT) was boosted by a one-off deferred tax credit of ₹36.64 crore. PAT stood at ₹104.3 crore in financial year 2026, compared with ₹43.1 crore in financial year 2025.
Rentomojo spent ₹176 crore on Property, Plant and Equipment (PP&E) in financial year 2026, compared with ₹138 crore in the previous year.
As of March 31, 2026, the company's combined current and non-current borrowings, along with lease liabilities related to its warehouse and store network, stood at ₹188 crore.
On Day 2, the non-institutional investor (NII) portion was subscribed 11.59 times, while the retail individual investor (RII) quota was booked 4.18 times. The qualified institutional buyer (QIB) portion was subscribed 0.45 times, according to exchange data.
The IPO comprises a fresh issue of shares worth ₹150 crore and an Offer For Sale (OFS) of 2.73 crore equity shares worth ₹1,105.57 crore.
The IPO has a price band of ₹384-404 per share, with a face value of ₹1 per share.
In the grey market, Rentomojo shares are commanding a premium of ₹135 per share, implying a premium of more than 33% over the upper end of the issue price. However, grey market premiums (GMPs) are speculative and the actual listing price may differ from the levels indicated by the GMP.
At the upper end of the price band, Rentomojo is seeking a market capitalisation of ₹4,206 crore.
Motilal Oswal Investment Advisors, Axis Capital, ICICI Securities, IIFL Capital and Nuvama Wealth Management are the book-running lead managers to the issue.
About Rentomojo
Rentomojo is a direct-to-consumer online rental and subscription platform for furniture, appliances and consumer durables. Instead of making an outright purchase, customers can rent or subscribe on a monthly basis to products such as beds, mattresses, wardrobes, sofas, televisions, washing machines, refrigerators and water purifiers.
The company also provides delivery, installation, maintenance and relocation services.
As of March 31, 2026, Rentomojo had 2.53 lakh live subscribers across 29 cities and 8.51 lakh live items in its portfolio. Its omnichannel model includes an online ordering platform and 82 experience stores.
The company operates 20 warehouses with a combined area of approximately 5.4 lakh square feet.
Financial performance
Between financial year 2024 and financial year 2026, Rentomojo's revenue from operations grew at a compounded annual growth rate (CAGR) of 41.7%, from ₹192.7 crore to ₹387 crore.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) rose to ₹163.4 crore in financial year 2026 from ₹78.1 crore in financial year 2024.
However, the company's financial year 2026 Profit After Tax (PAT) was boosted by a one-off deferred tax credit of ₹36.64 crore. PAT stood at ₹104.3 crore in financial year 2026, compared with ₹43.1 crore in financial year 2025.
Rentomojo spent ₹176 crore on Property, Plant and Equipment (PP&E) in financial year 2026, compared with ₹138 crore in the previous year.
As of March 31, 2026, the company's combined current and non-current borrowings, along with lease liabilities related to its warehouse and store network, stood at ₹188 crore.
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