Rentomojo opens ₹1,255.57 crore IPO; GMP signals 33% potential listing premium
Furniture and appliance rental platform Rentomojo’s IPO is priced at ₹384-404 a share, comprising a ₹150 crore fresh issue and ₹1,105.57 crore OFS. The company plans to use proceeds for debt repayment and warehouse and experience-store lease payments. Grey-market premium stood at ₹134.
What happened
Indian furniture and appliance rental platform Rentomojo opened its Rs 1,255.57-crore IPO, with grey-market premium suggesting a 33.17% listing gain. Proceeds
Key facts
- Rs 1,255.57 crore IPO
- Price band Rs 384-Rs 404 per share
- GMP Rs 134
- Implied listing price Rs 538
- Implied listing gain 33.17%
- Fresh issue Rs 150 crore
- Offer for sale Rs 1,105.57 crore
- FY26 total income Rs 394.09 crore
- FY26 PAT Rs 104.30 crore
- FY26 EBITDA Rs 163.46 crore
- 851,184 live items as of March 31, 2026
Why this matters
Rentomojo’s 851,184 live rental items and public-market debut validate furniture-and-appliance subscriptions as a scaled retail category, increasing the strategic value of capabilities in sourcing, refurbishment, reverse logistics and customer acquisition.
What to watch
- Final subscription mix across QIB, HNI and retail investors versus GMP-led demand.
- Listing-day price and post-listing trading volume relative to the ₹404 upper-band price and ₹134 GMP.
- Allocation of the ₹150 crore fresh issue between debt repayment and lease-related commitments.
- Net debt, finance costs and operating cash flow in the first two reported quarters after listing.
- Growth in live rental items beyond 851,184, along with utilization, churn and repeat-rental rates.
- Warehouse and experience-store lease liabilities versus revenue growth and EBITDA margin.
- Competitive pricing, promotional intensity and funding activity in Indian furniture and appliance rental.
- Use fresh-issue proceeds first to lower debt and visibly improve net-debt, interest-cost and cash-flow metrics.
- Prioritize warehouse deployment in high-density cities where delivery routes, refurbishment cycles and asset utilization can support lease commitments.
- Expand experience stores selectively as conversion and customer-acquisition channels rather than broad fixed-cost retail expansion.
- Publish cohort retention, rental-item utilization, refurbishment recovery, customer acquisition cost and payback metrics to support confidence in unit economics.
- Prepare for intensified competition from rental, refurbished-goods, consumer-finance and marketplace players following a successful listing.