Rentomojo IPO subscribed 4.70x on Day 3; grey-market premium signals 33% upside
The ₹1,256-crore IPO drew 4.70x subscription, led by NIIs at 11.59x and retail investors at 4.18x. Rentomojo serves 2.53 lakh subscribers across 29 cities through 82 experience stores and 20 warehouses.
What happened
Furniture and consumer-durables rental platform Rentomojo's ₹1,256-crore IPO was subscribed 4.70 times, led by non-institutional investors. The company operates
Key facts
- IPO size: ₹1,256 crore
- Subscription: 4.70 times
- NII subscription: 11.59 times
- Retail quota subscription: 4.18 times
- QIB subscription: 0.45 times
What changed
Furniture and consumer-durables rental platform Rentomojo's ₹1,256-crore IPO was subscribed 4.70 times, led by non-institutional investors. The company operates 82 experience stores and 20 warehouses across 29 cities, serving 2.53 lakh live subscribers.
Why this matters
Strong NII (11.59x) and retail (4.18x) demand plus a 33% grey-market premium signal positive listing sentiment, though muted QIB participation (0.45x) warrants caution on institutional conviction.
What to watch
- Final subscription breakup, especially whether QIB demand rises materially from 0.45x.
- Anchor-investor quality, lock-up structure, and post-listing institutional ownership.
- Listing-day opening premium versus the indicated 33% GMP upside.
- Quarterly active subscribers, net subscriber additions, churn, average revenue per subscriber, and renewal rates.
- Inventory utilization, refurbishment costs, depreciation, logistics expenses, and bad-debt/default trends.