Rentomojo IPO Secures Rs 376.07 Crore from Anchor Investors
Rentomojo, a furniture and appliance rental platform, has successfully raised Rs 376.07 crore from anchor investors in anticipation of its initial public offering (IPO). The Rentomojo IPO is set to begin its subscription today, September 9, and will come to a close on September 11.
Based in Bengaluru, Rentomojo has allotted 93.08 lakh equity shares to anchor investors at a price of Rs 404 each, which is at the upper end of its IPO price range. This pricing gives Rentomojo a valuation close to Rs 4,200 crore. The anchor investment round attracted several domestic mutual funds, insurance companies, and pension funds. Notable participants included Kotak ELSS Tax Saver Fund, ICICI Prudential Quality Fund, Goldman Sachs India Equity Portfolio, BlackRock Global Funds – India Fund, HDFC Mutual Fund, Aditya Birla Sun Life Mutual Fund, Mirae Asset Great Consumer Fund, Bandhan Innovation Fund, HSBC Mutual Fund, Invesco India, Motilal Oswal Mutual Fund, and JM Financial Mutual Fund.
In total, domestic mutual funds acquired 60,41,249 shares, equating to 64.90% of the anchor allocation, through 30 schemes across 16 funds, amounting to Rs 244.07 crore. Life insurance companies and pension funds received 12.62 lakh shares, or 13.56% of the anchor portion, valued at Rs 51 crore.
Details of the Rentomojo IPO
According to the Red Herring Prospectus (RHP), Rentomojo aims to raise Rs 1,255.6 crore through the IPO, which includes a fresh issue of Rs 150 crore as well as an Offer for Sale (OFS) of 2.73 crore shares worth Rs 1,105.6 crore. The OFS involves shares sold by existing investors which include Accel India, Edelweiss, Chiratae Ventures, ValueQuest, Madison India, and GMO, as well as by founder Geetansh Bamania.
Motilal Oswal, Axis Capital, and IIFL Capital Services are managing the book-running lead for the IPO.
Investor Returns and Company Growth
Previously, Startup Superb conveyed that many early investors in Rentomojo are anticipated to achieve impressive returns through the IPO, with some early backers estimated to receive returns as high as 152 times their initial investment on the OFS.
In terms of financial performance, the company’s revenue from operations witnessed a 45.5% increase year-on-year, reaching Rs 387 crore for FY26. Additionally, profit after tax surged by 142%, climbing to Rs 104.2 crore from Rs 43.1 crore in FY25.