Rentomojo files DRHP with Sebi for IPO worth Rs 150 crore fresh issue, OFS of 2.84 crore shares

Rentomojo, the online rental and subscription platform for home furniture and appliances, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO).

The proposed IPO comprises a fresh issue of equity shares aggregating up to Rs 150 crore and an offer-for-sale (OFS) of up to 2,83,99,567 equity shares by existing shareholders. The face value of each equity share is Rs 1.

Founded by Geetansh Bamania, Rentomojo operates a technology-driven, full-stack direct-to-consumer (D2C) platform offering rental and subscription services for furniture and home appliances across India. The company runs an omni-channel model comprising its online interface and 67 experience stores across India as of September 30, 2025.

Rentomojo is the largest player in the organised online rental segment for furniture and appliances, with an estimated market share of 42-47% based on subscription revenue in FY25, excluding water purifiers, according to a Redseer report cited in the draft papers. As of September 30, 2025, the company had over 2,27,511 live subscribers across 22 cities, supported by a network of 21 warehouses spanning approximately 4,44,486 sq ft of warehousing space.

The company operates an 11-touchpoint consumer lifecycle model covering order, risk assessment, delivery, installation, monthly collections, relocation, repairs, upgrades, subscription contract transfers, reverse logistics and refunds. Occupancy rates stood at 83.91% for the six months ended September 30, 2025, and 82.82%, 86.43% and 91.07% for FY25, FY24 and FY23, respectively.

On the financial front, revenue from operations stood at Rs 265.96 crore for FY25 and Rs 176.61 crore for the six months ended September 30, 2025. Profit after tax was Rs 43.11 crore for FY25 and Rs 61.38 crore for the first half of FY26.

The company proposes to utilise proceeds from the fresh issue towards repayment of debt, payment of lease rentals or licence fees for its warehouses and experience stores, and for general corporate purposes.

The equity shares are proposed to be listed on BSE and the National Stock Exchange of India (NSE). Motilal Oswal Investment Advisors, Axis Capital and IIFL Capital Services are the book-running lead managers to the issue.