Rentomojo IPO leads concurrent issues on grey-market listing-gain signals
Furniture and appliance rental platform Rentomojo’s Rs 1,255.57 crore IPO carried a Rs 143 grey-market premium, implying a 35.4% listing gain. The issue was subscribed 2.19 times on Day 2, ahead of bidding closing on Sept. 11 and a planned Sept. 17 listing.
What happened
Furniture and appliance rental platform Rentomojo’s Rs 1,255.57 crore IPO led three concurrent issues on grey-market indications, with a 35.40% implied listing
Key facts
- Rentomojo IPO size: Rs 1,255.57 crore
- Rentomojo price band: Rs 384-404
- Rentomojo GMP: Rs 143
- Rentomojo implied listing gain: 35.40%
- Rentomojo subscription: 2.19x on Day 2
- Manipal Payment IPO size: Rs 805 crore
- Manipal Payment implied listing gain: 2.36%
- Asset Reconstruction IPO size: Rs 732.97 crore
- Asset Reconstruction implied listing gain: 17.27%
Why this matters
Rentomojo’s IPO momentum could elevate valuations across rental commerce and make scaled subscription, refurbishment, and reverse-logistics assets more attractive partnership or acquisition targets.