Bengaluru-based furniture and appliance rental platform Rentomojo has raised ₹376.07 crore from anchor investors ahead of the opening of its initial public offering (IPO). The company has allotted 93.08 lakh equity shares at ₹404 per share, which is the upper end of its IPO price band. At this price, Rentomojo is valued at around ₹4,200 crore.
Rentomojo’s IPO opened for public subscription on September 9, 2026, and will remain open until September 11, 2026. The anchor allocation was completed ahead of the public issue, with participation from domestic mutual funds, insurance companies, pension funds and global institutional investors.
Several prominent investors participated in the anchor book. These include 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.
Domestic mutual funds accounted for the largest share of the anchor allocation. They received 60,41,249 shares, representing 64.90% of the total anchor allocation. The shares were distributed through 30 schemes across 16 mutual funds, with the total allocation to domestic mutual funds amounting to ₹244.07 crore.
Life insurance companies and pension funds were allotted 12.62 lakh shares, representing 13.56% of the anchor portion. The value of this allocation stood at approximately ₹51 crore. The participation from institutional investors comes ahead of Rentomojo’s public issue, which is among the IPOs opening in India’s active primary-market period.
According to the company’s Red Herring Prospectus, Rentomojo is looking to raise approximately ₹1,255.6 crore through the IPO. The issue consists of a fresh issue of ₹150 crore and an offer for sale (OFS) of 2.73 crore shares worth ₹1,105.6 crore. The fresh issue will provide new capital to the company, while the OFS will allow existing shareholders to sell part of their holdings.
The OFS includes shares being sold by existing investors such as Accel India, Edelweiss, Chiratae Ventures, ValueQuest, Madison India and GMO, along with founder Geetansh Bamania. The IPO is being managed by Motilal Oswal, Axis Capital and IIFL Capital Services, which are acting as the book-running lead managers.
Rentomojo has also recorded strong financial growth ahead of its public-market debut. Its revenue from operations increased 45.5% year-on-year to ₹387 crore in FY26, compared with ₹266 crore in FY25. At the same time, its profit after tax rose 142% to ₹104.2 crore, from ₹43.1 crore in the previous fiscal year.
The company operates a technology-driven rental and subscription platform focused primarily on furniture and home appliances. Rentomojo’s model allows customers to rent products rather than purchase them outright, with services designed around renting, upgrading, returning and relocating products. The company has been building its presence across Indian cities through its rental platform and physical experience network.
Rentomojo had 2.54 lakh live subscribers across 29 cities as of March 2026, according to its RHP-related disclosures. The company operated through 20 warehouses and 82 experience stores at that time, giving it a physical infrastructure base to support its rental operations and reverse-logistics requirements.
The anchor fundraising comes at an important stage in Rentomojo’s transition from a privately held startup to a publicly listed company. The successful allocation to institutional investors provides an early indication of participation ahead of the broader IPO, while the public issue will determine demand from institutional, non-institutional and retail investors.
With the IPO price fixed at ₹384–₹404 per share, the upper end of the band places Rentomojo’s valuation at around ₹4,200 crore. The company is now moving into the public subscription phase after securing ₹376.07 crore from anchor investors, with the final outcome of the IPO depending on investor demand during the three-day bidding period.
