The Rentomojo IPO will open for subscription on Wednesday, 9 September, and will close today, Friday, 11 September. The Rentomojo IPO price band has been set at ₹384- ₹404 per equity share, with a face value of Re 1 per share. The Rentomojo IPO lot size is 37 equity shares, and bids can be placed in multiples of 37 shares thereafter.
Rentomojo's IPO subscription for the public issue will open at 10:00 IST on Wednesday during the deals. Rentomojo IPO GMP todayRentomojo IPO GMP today, or grey market premium, is +134. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Rentomojo share price was indicated at ₹538 apiece, which is 33.17% higher than the IPO price of ₹404.
According to grey market trends observed over the past six sessions, the IPO's GMP is rising today, suggesting expectations of a robust listing. Throughout this timeframe, the GMP fluctuated between ₹79 and ₹155. Under Rentomojo's IPO reservation structure, up to 50% of the issue is reserved for qualified institutional buyers (QIBs), at least 15% for non-institutional investors (NIIs), and at least 35% for retail investors.
The Rentomojo IPO allotment basis is expected to be finalised on Tuesday, 15 September. The company is likely to begin processing refunds on Wednesday, 16 September, while shares are expected to be credited to the demat accounts of successful allottees on the same day.
Rentomojo share price is likely to be listed on both the BSE and NSE on Thursday, 17 September. Rentomojo IPO reviewSwastika Investmart said that at the upper price band of ₹404, Rentomojo commands a post-issue P/E of around 40.73x, based on FY26 post-issue EPS of ₹9.92.
On FY25 earnings, the valuation rises sharply to around 97.6x. While the company benefits from a “first-mover scarcity premium”, the brokerage believes the pricing leaves a limited margin of safety for IPO investors. The brokerage noted that ₹70 crore from the fresh issue will be used for debt prepayment, which is expected to reduce interest costs and improve the company’s debt-to-equity ratio, currently at 0.63x.
It recommended the issue for well-informed, high-risk or cash-surplus investors with a medium- to long-term investment horizon. It added that long-term performance will depend on Rentomojo’s ability to sustain high asset utilisation, generate repeat inventory cycles and improve profitability without diluting return on capital.
Canara Bank said Rentomojo operates a full-stack D2C rental platform, offering furniture and appliances through flexible subscriptions priced at ₹3,000– ₹4,000 per month, along with relocation services, swaps, and deposit refunds. The brokerage highlighted the company’s focus on addressing India’s short rental tenures and high upfront furnishing costs.
According to Canara Bank, Rentomojo’s model is built around a subscription engine, large-scale refurbishment and circular logistics. Revenue, EBITDA and PAT grew at CAGRs of 42%, 45% and 73%, respectively, between FY24 and FY26, while ROCE stood at around 25%, and CFO/PAT exceeded 100%.
However, it noted that FY26 PAT of ₹104.3 crore included a deferred tax credit of ₹36.6 crore, resulting in lower adjusted earnings. At the IPO price, the P/E stands at around 38.8x, rising to nearly 60x after excluding the deferred tax benefit. Despite the premium valuation, Canara Bank recommended a Subscribe rating for the long term, citing Rentomojo’s differentiated business model and entry barriers.
SBICAP Securities said that at the upper price band of ₹404, Rentomojo is valued at a post-issue P/E of around 39.4x based on FY26 earnings. Given the company’s market leadership, strong growth, improving profitability and favourable industry prospects, the brokerage assigned a Subscribe rating to the IPO.
Rentomojo IPO detailsThe IPO of online furniture and appliance rental platform Rentomojo comprises a fresh issue of equity shares worth up to ₹150 crore and an Offer For Sale (OFS) of 2.73 crore shares, valued at up to ₹1,106 crore at the upper end of the price band.
At the upper price band of ₹404 per share, the total issue size stands at ₹1,256 crore. The OFS comprises shares offered by several existing shareholders, including Accel India IV (Mauritius) Ltd, Edelweiss Discovery Fund – Series I, IDG Ventures India Fund III LLC, ValueQuest S.
C. A. L. E. Fund, Madison India Opportunities V VCC, Chiratae Trust, TM Naigama Investment Manager LLP, GMO Payment Gateway Inc, Geetansh Bamania, GMO GFF Ltd Partnership and Renaud Laplanche. The company plans to use the proceeds from the fresh issue towards debt repayment, lease rentals or licence fees for warehouses and experience stores, and general corporate purposes.
Motilal Oswal Investment Advisors Ltd, Axis Capital Ltd and IIFL Capital Services Ltd are the book-running lead managers to the issue, while KFin Technologies Ltd is acting as the registrar. Rentomojo IPO anchor investorsAhead of the IPO, Rentomojo allotted 93,08,667 equity shares to 41 anchor investors, raising ₹376.07 crore at the anchor investor allocation price of ₹404 per share.
The shares have a face value of Re 1 each, including a share premium of ₹403 per share. The anchor book saw participation from marquee investors, including Goldman Sachs Funds – Goldman Sachs India Equity Portfolio, BlackRock Global Funds – India Fund, ICICI Prudential Quality Fund, HDFC Mutual Fund, Mirae Asset Great Consumer Fund, Motilal Oswal Large Cap Fund and HDFC Standard Life Insurance Company, among others.
Of the total 93,08,667 equity shares allotted to anchor investors, 60,41,249 shares, or 64.90% of the total anchor allocation, were allotted to 16 mutual funds through 30 schemes. Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint.
We advise investors to check with certified experts before making any investment decisions.