India’s Rentomojo Sets $133M IPO After Profit Jumps 142%
Synopsis
Rentomojo, the Accel-backed furniture and appliance rental platform, is targeting a $444 million valuation through its upcoming India IPO as the subscription-based business moves into public markets.
India’s Rentomojo has set a price band of Rs 384 to Rs 404 ($4.06-$4.28) per share for its $133 million initial public offering. The issue is scheduled to open for subscription on September 9 and close on September 11, 2026.
India’s Rentomojo is looking to value at about Rs 42 billion or $444.52 million if the shares are subscribed to at the upper end of the price band. Anchor investors can bid on September 8.
IPO Includes Rs 150 Crore Fresh Issue
India’s Rentomojo’s IPO includes a fresh issue of shares up to Rs 150 crore, while existing investors including Accel and its founder will sell a combined 27.4 million shares.
The company expects to use the proceeds from the fresh issuance to repay debt and also to meet rental and licence payments for its warehouses and experience stores. The shares are proposed to be listed on the NSE and BSE.
India’s Rentomojo reported a 45.5% growth in revenue to Rs 387 crore for the year ended March 31, 2026. Profit jumped 142% to Rs 104 crore from Rs 43.1 crore in FY25.
The FY26 profit figure includes a one-time tax benefit of about Rs 36.6 crore. The company had 253,825 live subscribers as of March 31, 2026, across 29 Indian cities.
From Bengaluru Startup to Public Issue
India’s Rentomojo was founded in 2014 and runs a subscription-based rental platform that covers furniture, appliances and other household products. The company is based in Bengaluru and uses its rental network to serve customers across Indian cities.
India’s Rentomojo’s IPO follows a sustained activity in the public-equity market in India. Market data for August 2026 showed 20 companies raised more than Rs 21,000 crore through IPOs in the month. Companies including Rentomojo are among the issues scheduled or being prepared for the September market.
India’s Rentomojo filed its draft IPO papers with the Securities and Exchange Board of India earlier this year and eventually received regulatory observations in July. The proposed offer does not have a directly listed Indian peer, according to the IPO disclosure.
For India’s Rentomojo, the September issue combines a Rs 150-crore fresh capital raise with a larger offer-for-sale component in a way that existing shareholders have an opportunity to sell shares as the company moves towards the proposed NSE and BSE listing.
Source: Reuters
Pooja Malik is a business journalist with over six years of experience covering startups, entrepreneurship, and emerging trends. She has previously worked with leading media platforms such as YourStory Media and BW BusinessWorld, where she reported on business, policy, and market developments. Currently, she serves as Editor at The Inspirepreneur Magazine, where she writes and edits stories across business, lifestyle, and travel, with a focus on clarity, accuracy, and reader relevance.
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