Rentomojo, a startup focused on furniture and appliance rentals, has officially submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).
The proposed IPO will feature:
- A fresh issue of shares valued at up to ₹150 crore.
- An offer for sale (OFS) of approximately 2.84 crore shares.
Key investors, including Accel, Chiratae, Edelweiss Mutual Fund, and GMO Venture, are looking to divest shares through the OFS. Additionally, Rentomojo co-founder Geetansh Bamania plans to sell around 20.07 lakh shares as part of the IPO.
The funds raised from the fresh issue are earmarked for:
- Expanding the company’s offline presence.
- Establishing new warehouses.
- Repaying certain debts.
- General corporate purposes.
For the first half of the fiscal year ending September 30, 2025 (H1 FY26), Rentomojo reported a profit after tax of ₹61.4 crore, with operating revenue reaching ₹176.6 crore.
(Further updates will follow.)
