Rentomojo IPO
Rentomojo IPO — dates, price band, GMP & allotment.
Timetable
Issue Summary
| Price Band | ₹384-404 |
| Face Value | ₹1 |
| Lot Size | 37 Shares |
| Issue Size | ₹1255.57 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| NSE Symbol | RENTOMOJO.NS |
| BSE Scrip Code | 7951 |
| Min Investment | ₹14,948 |
Reservation
What Will It Cost Me?
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 37 | ₹14,948 |
| Retail (Max) | 13 | 481 | ₹194,324 |
| S-HNI (Min) | 14 | 518 | ₹209,272 |
| B-HNI (Min) | 67 | 2,479 | ₹1,001,516 |
Strengths & Risks
Strengths
- Profit has grown very fast, from Rs 22.41 crore in FY2024 to Rs 43.11 crore in FY2025 and Rs 104.30 crore in FY2026.
- Sales have doubled in two years, from Rs 195.80 crore in FY2024 to Rs 394.09 crore in FY2026, a rise of 45% in the last year.
- EBITDA more than doubled over the same period, from Rs 78.15 crore to Rs 163.46 crore.
- Return ratios are good, with RoCE of 25.14% and RoNW of 26.67%, and a PAT margin of 16.21%.
- The subscriber base is large and spread out, at 253,825 live subscribers across 29 cities as on 31 March 2026.
- The company handles the full life of the asset itself, from buying and refurbishing to putting the item out again, so one item can earn over several rental cycles.
- Its occupancy rate was 83.34% in FY2026, which means most of the assets it owns were actually out on rent and earning.
- It has real infrastructure behind the service, with 82 experience stores, 20 warehouses of 538,933 square feet and an average delivery time of 2.35 days.
Risks
- The issue is priced high on earnings. At the upper band of Rs 404 the P/E is about 40.73 times on an EPS of Rs 9.92.
- There is no dominant promoter. Promoter holding is only 21.49% before the issue and falls to 19.94% after it, and the promoter names are not stated in the data available to us.
- This is a capital heavy business despite being called a platform. Furniture and appliances have to be bought upfront and the money comes back slowly over many rental cycles.
- Everything depends on occupancy. The 83.34% occupancy rate is what makes the model work, and a fall in it would hit returns quickly because the asset cost is already sunk.
- Borrowing has gone up every year, from Rs 147.22 crore in FY2024 to Rs 187.59 crore in FY2026.
- Rs 42.50 crore of the issue money goes towards lease rent and licence fees for warehouses and stores. That is a running cost, not an asset the company will own.
- Rented items come back used. Damage, repair and the fall in value of older stock are permanent costs in this business.
- Competition comes from cheap online buying options and from other rental platforms, and customers can simply choose to buy instead of rent.
- This is a fresh issue combined with an offer for sale, so a part of the money goes to the selling shareholders and not to the company.
Valuation & Key Ratios
Financials (Rs. Crore)
| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 641.12 | 449.87 | 366.20 |
| Total Income | 394.09 | 271.96 | 195.80 |
| Profit After Tax | 104.30 | 43.11 | 22.41 |
| EBITDA | 163.46 | 118.44 | 78.15 |
| NET Worth | 295.81 | 183.61 | 139.61 |
| Reserves and Surplus | 291.71 | 182.94 | 138.94 |
| Total Borrowing | 187.59 | 154.58 | 147.22 |
About The Company
Rentomojo Limited was started in April 2012. It runs an online platform where people rent home furniture and appliances on a monthly subscription instead of buying them. The customer can rent, return, upgrade or shift the product to a new city without paying a large amount upfront or being stuck with ownership.
Its range covers everyday home items such as beds, mattresses, washing machines, refrigerators, wardrobes, sofas, televisions and water purifiers. As on 31 March 2026 it had 851,184 items live with customers.
The company handles the whole life of the asset itself, covering what to stock, product design, buying, refurbishing, servicing, taking the item back and putting it out again to the next customer. Because one item can be rented out over several cycles, this model decides how well the money invested in assets is recovered. It sells both online and through 82 experience stores across India. As on 31 March 2026 it had 253,825 live subscribers across 29 cities and ran 20 warehouses covering 538,933 square feet. In FY2026 its average delivery time was 2.35 days and its occupancy rate was 83.34%.
Company & Registrar
Subscription By Category
| Category | Subscribed | Shares Offered | Shares Bid For |
|---|---|---|---|
| Qualified Institutional Buyers (QIB) | 177.29× | 6,205,779 | — |
| Non-Institutional Investors (NII) | 67.93× | 4,654,335 | — |
| Retail Individual Investors (RII) | 15.59× | 10,860,114 | — |
| Employee | 21.03× | 52,083 | — |
| Shareholder | 0× | — | — |
| Total | 72.88× | 21,772,311 | — |
GMP History
| Date | GMP | % Over Issue Price |
|---|
Anchor Investors
| Investor | Category | Shares Allotted | Value |
|---|
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