Accel-backed online furniture rental platform Rentomojo has fixed the price band for its initial public offering at ₹384-404 per share. The public issue will open for subscription on September 9 and close on September 11, while the anchor investor portion will open on September 8.
Retail investors can bid for a minimum of one lot comprising 37 equity shares and in multiples thereafter. At the upper end of the price band, the minimum investment will amount to ₹14,948. At the top end of the price band, Rentomojo is targeting a valuation of around ₹4,200 crore.
The company is issuing fresh shares worth up to ₹150 crore, while existing investors, including Accel, and its founder will sell a total of 2.74 crore shares through the offer for sale . Rentomojo plans to use the proceeds from the fresh issue to repay debt and pay rental and licence fees for its warehouses and experience stores.
Headquartered in Bengaluru, Rentomojo operates a subscription-based rental platform offering furniture, appliances and other home essentials. Backed by Accel, Chiratae Ventures and Bain Capital, the startup has raised more than $45 million in funding to date.
It had 253,825 live subscribers across 29 Indian cities as of March 31, 2026. The company does not have any listed peers. Rentomojo's profit jumped 142% to ₹104 crore in FY26, while revenue rose 45.5% to ₹387 crore. Its EBITDA increased 38% to ₹163.5 crore in FY26 from ₹118.4 crore in the previous fiscal.
However, the EBITDA margin declined to 41.5% from 43.6% in FY25.