Rentomojo eyes ₹1,255 crore IPO as four firms line up ₹3,362 crore in issues

Furniture-and-appliance rental platform Rentomojo’s IPO is set to open September 9, comprising a ₹150 crore fresh issue and ₹1,105 crore offer for sale. It plans to use ₹70 crore of fresh proceeds to repay debt.

— Source publishedFri, 4 Sept, 2026, 20:11 IST·First seen Fri, 4 Sept, 2026, 20:18 IST·Source The Hindu BusinessLine

What happened

Four Indian firms plan ₹3,362 crore IPOs opening September 9, led by furniture-and-appliance rental platform Rentomojo’s ₹1,255 crore issue. Rentomojo will use

Key facts

  • ₹3,362 crore cumulative IPO fundraising
  • Rentomojo ₹1,255 crore IPO
  • Rentomojo price band ₹384-404 per share
  • Rentomojo fresh issue ₹150 crore
  • Rentomojo OFS ₹1,105 crore
  • Rentomojo ₹70 crore debt repayment
  • Rentomojo borrowings ₹258 crore
  • Manipal Payment ₹805 crore IPO
  • Karamtara ₹875 crore IPO
  • LCC Projects ₹427 crore IPO

Why this matters

Rentomojo’s listing could create a public valuation benchmark for the rental-commerce category, though the largely secondary structure suggests limited near-term balance-sheet firepower for acquisitions.

What to watch

  • Subscription levels across qualified institutional buyers, non-institutional investors and retail investors.
  • Final IPO pricing relative to the indicated valuation and any anchor-investor participation.
  • Post-listing trading performance and free-float liquidity.
  • Debt reduction, interest-cost savings and net-debt-to-equity changes after the issue.
  • Quarterly active subscribers, churn, average revenue per user, rental asset utilization and contribution margin.
  • Bad-debt provisions, refurbishment/write-off costs and inventory replacement needs.
  • Competitive pricing moves from furniture retailers, appliance brands, marketplaces and other rental providers.
  • Use up to ₹70 crore of fresh proceeds for debt repayment, reducing interest expense and improving leverage metrics.
  • Emphasize contribution-margin expansion, customer retention, asset utilization and refurbishment economics during investor marketing.
  • Seek improved procurement terms, co-branded financing or exclusive supply arrangements with appliance and furniture manufacturers.
  • Prioritize expansion in dense urban clusters where delivery, pickup and maintenance costs can be spread across a larger active rental base.
  • Existing investors may use the IPO price discovery to reassess exit timing and valuations for adjacent rental and recommerce companies.

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