Rentomojo IPO: Shares debut at 19% premium, valuation hits ₹5,000 crore

Shares of Rentomojo, India’s largest online rental and subscription platform for home furniture and appliances, made a positive debut on the stock exchanges on Thursday, listing at a premium of nearly 19% over its IPO price after the ₹1,255.57-crore issue was subscribed 72.89 times.

Rentomojo shares listed at ₹480 on the BSE, an 18.81% premium over the IPO price of ₹404 apiece, valuing the company at ₹4,997.51 crore. On the NSE, the stock debuted at ₹482.45, up 19.42% from the issue price.

The listing was broadly in line with Street expectations, with the stock commanding a grey market premium (GMP) of ₹87, or 21.53%, ahead of its debut. Rentomojo shares were trading at ₹491 in the grey market before listing.

Meanwhile, the benchmark equity indices were trading marginally higher despite weak global cues. The Nifty 50 rose 54.45 points, or 0.23%, to 23,272.05, while the Sensex gained 104.15 points, or 0.14%, to 74,440.60 in early trade on September 17.

Issue subscribed 72.89 times

Rentomojo IPO, which was open for subscription from September 9 to September 11, was subscribed 72.89 times. The retail portion was subscribed 15.62 times, while the qualified institutional buyers (QIB) category, excluding anchor investors, was subscribed 177.29 times. The non-institutional investors (NII) portion was subscribed 67.93 times.

The issue comprised a fresh issue of ₹150 crore and an offer for sale (OFS) of ₹1,105.57 crore. The price band was fixed at ₹384–404 per share. The fresh issue comprised 37.15 lakh shares, while the OFS consisted of 2.74 crore shares.

Promoted by Geetansh Bamania, the company operates an online rental and subscription platform for home furniture and appliances. The company plans to use the IPO proceeds to repay or prepay borrowings, pay lease rentals and licence fees for warehouses and experience stores, and meet general corporate purposes.

According to its DRHP, Rentomojo had an estimated 42%-47% share of the organised home furniture and appliance rental market, excluding water purifiers, based on subscription revenue in FY25, citing a Redseer report.

As of September 30, 2025, the company had 227,511 live subscribers across 22 cities, supported by 21 warehouses and 67 experience stores. It offered 728,773 live products through its omnichannel platform.

Rentomojo reported revenue from operations of ₹176.61 crore for the six months ended September 30, 2025, compared with ₹265.96 crore in FY25. Its restated profit after tax stood at ₹61.38 crore for the six-month period and ₹43.11 crore for FY25.