Furniture and appliance rental platform RentoMojo made its stock market debut on Thursday, September 17, with its shares listing at nearly a 19% premium to the IPO issue price.
On the NSE, RentoMojo shares opened at Rs 482.45 against the issue price of Rs 404, representing a 19.42% premium. Meanwhile, the stock debuted at Rs 480 on the BSE, marking an 18.81% premium.
The listing followed strong investor interest in RentoMojo’s Rs 1,256 crore IPO. The issue was subscribed 72.87 times, while the qualified institutional buyers (QIBs) portion attracted bids worth around 177.3 times the shares on offer. Furthermore, the non-institutional investor (NII) portion was subscribed 67.92 times, while retail investors subscribed 15.58 times the shares available.
RentoMojo had set the IPO price band at Rs 384-404 per share. The issue included a fresh issue of Rs 150 crore and an offer for sale (OFS) worth around Rs 1,106 crore. Consequently, existing shareholders accounted for nearly 88% of the total issue through the OFS, while RentoMojo raised Rs 150 crore in fresh capital.
Based in Bengaluru, RentoMojo operates a rental platform that allows consumers to rent furniture and home appliances through monthly subscription plans. The company primarily serves urban households and has a presence across several major Indian cities.
Meanwhile, RentoMojo competes with companies such as Pepperfry, Furlenco, and Cityfurnish. With its stock market debut, the company has become the first player in the furniture and appliance rental segment to enter the IPO market.
Earlier, it was reported that several early investors in RentoMojo are set to generate substantial returns through the IPO. Some early backers are expected to clock up to 152X returns through the OFS.
On the financial front, RentoMojo recorded a 45.5% year-on-year increase in revenue from operations to Rs 387 crore in FY26. Moreover, its profit after tax surged 142% to Rs 104.2 crore, compared with Rs 43.1 crore in FY25.
