Furniture rental startup Rentomojo gears up for IPO; plans DRHP filing in FY27

Bengaluru-based rental startup Rentomojo is mulling to list its shares on domestic bourses in the next 18 to 24 months and has appointed IIFL and Motilal Oswal as bankers for its initial public offering (IPO), according to industry sources. The company is targeting to file its draft red herring prospectus (DRHP) with the capital markets regulator Sebi in FY27.

Founded in 2014 by Geetansh Bamania and Ajay N, Rentomojo has so far raised close to ₹400 crore in equity. As of September 2025, the company has an active subscriber base of over 2.2 lakh and manages more than 7.5 lakh item units, with a deployment rate of above 85%. Of the $40 billion furniture and appliances market in India, Rentomojo  commands over 50% of the organised rental space, as per its FY24 figures. 

The startup recently opened its 65th experience store in Lucknow, expanding its presence to 22 cities across India. It employs a workforce of over 2,200, including 100+ in corporate roles and the rest across warehouses, retail, and customer support.

On the customer front, the company’s average subscriber tenure stands at around 18 months, while its audited FY24 revenue reflects a market share of over 50% in the organised furniture and appliance rental space.

On the earnings front, Rentomojo is projected to post a net profit of around ₹40 crore in FY25, compared to ₹22.1 crore in FY24 and ₹6.2 crore in FY23. Gross rental revenue is projected to cross ₹325 crore in FY25, growing at a CAGR of 45% over FY22-FY25. EBITDA has risen steadily from ₹27 crore in FY23 to ₹66 crore in FY24 and is estimated at ₹92 crore in FY25. Meanwhile, predictable contractual revenue on a gross merchandise value (GMV) basis stood close to ₹650 crore as of March 2025.

RentoMojo has raised $58.4 million in funding from investors like Accel, Chiratae Ventures and Bain Capital Ventures, with a current valuation of ₹877 crore, as per Tracxn data. Its first funding round was on August 11, 2015, while its latest funding round was a Series D round on February 21, 2024 for $12.4 million. 7 investors participated in its latest round, lead by Magnetic, Edelweiss Discovery Fund and Edelweiss Asset Management, the data showed.

(DISCLAIMER: The views and opinions expressed by investment experts on fortuneindia.com are either their own or of their organisations, but not necessarily that of fortuneindia.com and its editorial team. Readers are advised to consult certified experts before taking investment decisions.)