The proposed IPO comprises a fresh issue of equity shares aggregating up to ₹150 crore and an Offer for Sale (OFS) of up to 2.84 crore equity shares by existing shareholders. The company may also undertake a pre-IPO placement of up to ₹30 crore, and if completed, the size of the fresh issue will be reduced accordingly.
The OFS will see existing shareholders, including Accel India IV (Mauritius), Edelweiss Discovery Fund, ValueQuest S.C.A.L.E. Fund, Madison India Opportunities, Chiratae Ventures, GMO VenturePartners and promoter Geetansh Bamania, pare their stakes.
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The company plans to utilise the net proceeds from the fresh issue towards repayment or prepayment of certain outstanding borrowings, payment of lease rentals and licence fees for its warehouses and experience stores, and general corporate purposes.
Rentomojo operates a technology-driven, direct-to-consumer online rental and subscription platform for furniture and home appliances. According to its draft papers, Rentomojo is India’s largest online rental and subscription platform for home furniture and appliances, with an estimated 42%–47% share of the organised furniture and appliances rental market, excluding water purifiers, based on subscription revenue in FY25.
As of September 30, 2025, the company had 227,511 live subscribers across 22 cities, supported by 21 warehouses spanning around 4.44 lakh square feet. It also operated 67 experience stores and offered a portfolio of 728,773 live products through its omnichannel platform.
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The company said its technology-enabled operating model has helped maintain strong asset utilisation, with occupancy rates of 83.91% in the first half of FY26, compared with 82.82% in FY25, 86.43% in FY24 and 91.07% in FY23.
For the six months ended September 30, 2025, Rentomojo reported revenue from operations of ₹176.6 crore and a profit after tax of ₹61.4 crore. For FY25, revenue stood at ₹266 crore, while profit after tax came in at ₹43.1 crore.
The IPO process has also been shadowed by an ongoing legal dispute. Former co-founder and COO Ajay Nain has approached the National Company Law Tribunal’s Bengaluru bench, seeking to restrain the company from proceeding with the IPO.
Nain has alleged he was misled into selling his 9.41% stake in 2023 and has sought restoration of his shareholding. According to the DRHP, the company has filed caveats to ensure no order is passed without hearing its submissions. The matter is yet to be heard.
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Motilal Oswal Investment Advisors, Axis Capital and IIFL Capital Services are the book-running lead managers to the issue.
(Edited by : Jomy Jos Pullokaran)
