Accel India-Backed Rentomojo Lines Up ₹1,255 Crore IPO; Subscription Begins 9 September
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Accel India-backed Rentomojo will open its ₹1,255 crore IPO on 9 September 2026. The issue comprises a fresh share sale of up to ₹150 crore and an OFS of 2.73 crore shares. It has fixed the price band at ₹384-404 per share.
Rentomojo, the Bengaluru-based furniture and appliance rental platform, has set 9 September 2026 as the opening date for its initial public offering (IPO). The issue is scheduled to remain open until 11 September 2026.
The company, backed by Accel India, has fixed a price band of ₹384-404 per share. At the upper end of the price band, the company is seeking a market capitalisation of ₹4,006.2 crore.
The Rentomojo IPO will combine fresh capital with an offer for sale (OFS) by existing investors. The company is also backed by Edelweiss, IDG Ventures India, ValueQuest, Madison India and GMO.
Rentomojo IPO Details
Here are the key details of the Rentomojo IPO:
Issue size | ₹1,255 crore |
Fresh issue | Up to ₹150 crore |
OFS | 2.73 crore shares worth ₹1,105.5 crore |
Price band | ₹384-404 per share |
IPO date | 9 to 11 September 2026 |
Anchor book | 8 September 2026 |
Expected allotment | 15 September 2026 |
Expected listing | 17 September 2026 |
Merchant bankers | Motilal Oswal Investment Advisors, Axis Capital and IIFL Capital Services |
The company has reserved ₹2 crore worth of shares for employees in the IPO. Eligible employees will receive a discount of ₹20 per share.
Existing Investors Will Lead The Offer-For-Sale
The ₹1,105.5 crore OFS will see Accel India, Edelweiss, IDG Ventures India, ValueQuest, Madison India and GMO, along with promoter Geetansh Bamania, sell shares.
Bamania held a 13.37% stake, while Accel India held 12.71% post-issue. Chiratae Ventures, Edelweiss Discovery Fund and ValueQuest held 7.68%, 7.42% and 6.02%, respectively.
Half of the net issue of the Rentomojo IPO, excluding the employee portion, has been reserved for qualified institutional buyers (QIBs). Retail investors and non-institutional investors (NIIs) have been allocated 35% and 15%, respectively.
IPO Funds Will Support Debt Repayment And Lease Costs
Rentomojo plans to use ₹70 crore from the fresh issue to repay part of its borrowings. Its total borrowings stood at ₹258.3 crore as of June 2026.
Another ₹42.5 crore is planned for lease rentals or licence fees for warehouses and experiential stores. The funds remaining will be utilised for general corporate purposes.
Rentomojo Operating Scale And Financials
As of March 2026, Rentomojo had 20 warehouses and 82 experience stores, all operating on leasehold properties. It runs a technology-led direct-to-consumer (D2C) online rental and subscription platform for furniture and appliances in India.
The business reported a profit of ₹104.2 crore in the financial year ended March 2026, compared with ₹43.1 crore a year earlier. Revenue rose 45.5% to ₹387 crore from ₹266 crore during the same period.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
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