RentoMojo, the country’s largest online rental and subscription platform for home furniture and appliances, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India for an initial public offering (IPO).

The proposed issue comprises a fresh issue of equity shares aggregating up to ₹150 crore, along with an offer for sale (OFS) of up to 28,399,567 shares by existing shareholders. The face value of each equity share is ₹1.

As per the DRHP, existing investors including Accel India, Edelweiss Discovery Fund, ValueQuest, Chiratae Ventures, Madison India Opportunities, GMO Payment Gateway, along with founder Geetansh Bamania, will participate in the OFS.

The promoters currently hold a 21.51% stake in the company, while public shareholders own 73.66% and employee trusts hold the remaining 4.83%. Accel India is the largest shareholder with a 20.92% stake and is expected to offload the biggest portion in the OFS, followed by Chiratae Ventures, Edelweiss Discovery Fund and ValueQuest.

Founded in 2014 by Geetansh Bamania and Ajay Nain, the Bengaluru-based company operates a multi-category rental platform offering furniture and appliances on a subscription basis. It has raised $58.4 million across 18 funding rounds from investors such as Accel, Chiratae Ventures and Bain Capital Ventures, including its latest $25 million round led by Edelweiss in February 2024 at a valuation of $110 million, according to reports.

The company plans to utilise the net proceeds from the IPO towards repayment or prepayment of certain borrowings, payment of lease rentals or licence fees for its warehouses and experience stores, and for general corporate purposes.

On the financial front, revenue from operations stood at ₹176.61 crore for the six months ended September 30, 2025, and ₹265.96 crore for FY25. Restated profit after tax was at ₹61.38 crore for the six-month period and ₹43.11 crore for FY25.

RentoMojo operates a technology-driven, full-stack direct-to-consumer (D2C) platform and is a market leader with an estimated 42–47% share in the organised home furniture and appliances rental segment (excluding water purifiers), based on subscription revenue in FY25 (Source: Redseer). As of September 30, 2025, it had 227,511 live subscribers across 22 cities, supported by 21 warehouses spanning approximately 444,486 sq. ft.

The company runs an omni-channel model combining its digital platform with 67 experience stores across India, offering access to a portfolio of 728,773 live products. Its operations are underpinned by an 11-touchpoint consumer lifecycle model, including order, risk assessment, delivery, installation, collections, relocation, repairs, upgrades, contract transfers, reverse logistics and refunds, driving strong asset utilisation.

Occupancy rates stood at 83.91% for the six months ended September 2025 and 82.82%, 86.43%, and 91.07% for FY25, FY24, and FY23, respectively.

Motilal Oswal Investment Advisors, Axis Capital and IIFL Capital Services are the book-running lead managers to the issue.