Rentomojo targets ₹4,200 crore valuation in IPO led by ₹1,105.6 crore OFS

Furniture-rental platform Rentomojo’s IPO will comprise a ₹150 crore fresh issue and about ₹1,105.6 crore offer for sale at an upper price band of ₹404 a share. The company reported FY26 revenue of ₹387 crore, up 45.5% year on year, and PAT of ₹104.2 crore, up 142%.

— Source publishedSat, 5 Sept, 2026, 13:33 IST·First seen Sat, 5 Sept, 2026, 13:34 IST·Source Entrackr · Newsletter

What happened

Furniture-rental platform Rentomojo plans an IPO comprising a Rs 150 crore fresh issue and roughly Rs 1,105.6 crore OFS, valuing it near Rs 4,200 crore. The

Key facts

  • Upper price band: Rs 404 per share
  • Fresh issue: Rs 150 crore
  • OFS: approximately Rs 1,105.6 crore
  • Implied valuation: approximately Rs 4,200 crore
  • IPO subscription: September 9-11
  • FY26 revenue: Rs 387 crore, up 45.5% YoY
  • FY26 PAT: Rs 104.2 crore, up 142% YoY
  • Nitish Mittersain potential return: 152X

Why this matters

The planned listing creates a valuable valuation benchmark for furniture-rental and circular-economy assets, while opening potential partnership or consolidation opportunities around a newly public category leader.

What to watch

  • Anchor-book demand, subscription level and any revision to the ₹404 upper price band.
  • IPO valuation multiples relative to revenue, profit and listed consumer-platform peers.
  • Breakdown of selling shareholders, promoter post-issue ownership and lock-in arrangements.
  • Disclosed metrics on active subscribers, churn, average order value, utilization, refurbishment cost and asset write-offs.
  • Use-of-proceeds detail and whether the fresh issue is sufficient to fund growth without materially increasing leverage.
  • Post-listing quarterly revenue growth and PAT conversion, especially evidence that margins hold during expansion.
  • Use IPO proceeds primarily for fleet expansion, refurbishment infrastructure, technology and working-capital support, while continuing selective geographic expansion.
  • Emphasize profitability, repeat subscriptions, asset utilization and customer retention in marketing to offset concerns around the secondary-sale-heavy issue structure.
  • Competitors in furniture rental, appliance rental and managed living may accelerate fundraising or partnership discussions ahead of a potential category re-rating.
  • Large furniture retailers and e-commerce platforms may revisit rental, buyback and subscription offerings as Rentomojo's listing validates consumer demand for access-based models.

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