Rentomojo IPO draws 1.97x subscription on Day 1, led by NII demand

Bengaluru-based furniture and appliance rental platform Rentomojo saw its ₹1,256 crore IPO subscribed 1.97x on the first day. Non-institutional investors subscribed 3.87x, while retail demand reached 2.05x; QIB demand stood at 0.41x.

— Source publishedThu, 10 Sept, 2026, 11:38 IST·First seen Thu, 10 Sept, 2026, 11:41 IST·Source Entrackr · Newsletter

What happened

Bengaluru furniture and appliance rental platform Rentomojo's Rs 1,256 crore IPO was subscribed 1.97x on day one, led by NII demand. Proceeds from its Rs 150

Key facts

  • IPO size: Rs 1,256 crore
  • Day 1 subscription: 1.97x
  • NII subscription: 3.87x
  • Employee portion subscription: 2.09x
  • Retail portion subscription: 2.05x
  • QIB subscription: 0.41x
  • Price band: Rs 384-404 per share
  • Fresh issue: Rs 150 crore
  • Offer for sale: Rs 1,1056 crore
  • FY26 revenue: Rs 387 crore, up 45.5% YoY
  • FY26 profit: Rs 104 crore, up 142% YoY
  • Valuation at upper band: around $444 million

Why this matters

Rentomojo’s IPO traction reinforces rental furniture and appliances as a strategically relevant category, potentially increasing competitive pressure and partnership or acquisition interest across the circular-living ecosystem.

What to watch

  • QIB demand rising above fully subscribed before issue close.
  • Final subscription multiple and the retail/NII/QIB allocation mix.
  • IPO pricing relative to disclosed revenue growth, EBITDA/cash-flow metrics and listed consumer-platform comparables.
  • Grey-market premium trajectory in the days before listing.
  • Listing-day opening premium, delivery volumes and first-month trading stability.
  • Post-listing disclosures on use of proceeds, new-city rollout, subscriber growth, churn, utilization and credit losses.
  • Any response from major rental, marketplace, fintech or durable-goods retailers entering rental/subscription offers.
  • Monitor final-day QIB subscription, anchor investor quality and overall book composition rather than headline oversubscription alone.
  • Track grey-market premium and listing-day turnover for evidence of sustainable demand versus NII-driven momentum.
  • Expect Rentomojo and competitors to emphasize profitability, customer retention, asset utilization and refurbishment economics in investor communications.
  • Watch for competitors in furniture rental, appliance rental and managed-living to test private fundraising or revive IPO preparation if the listing is well received.
  • Anticipate greater competitive spending on customer acquisition, supply partnerships and city expansion if IPO proceeds materially strengthen Rentomojo's balance sheet.

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