RentoMojo, a startup specializing in furniture and appliance rentals, has submitted its draft red herring prospectus (DRHP) to SEBI, marking a significant step towards becoming India's first public furniture rental company. The upcoming IPO will feature a fresh issue of shares valued at up to ₹150 Cr, alongside an offer for sale (OFS) of approximately 2.84 Cr shares.
This IPO will facilitate partial exits for several investors, including Accel India, Edelweiss Discovery Fund, ValueQuest, Madison India Capital, Chiratae Ventures, International Finance Corporation, and GMO Payment Gateway. Additionally, promoter and co-founder Geetansh Bamania plans to divest 20.07 Lakh shares through the IPO.
Accel India, the largest stakeholder, aims to sell 78.47 Lakh shares, while Edelweiss Discovery Fund and Chiratae Ventures plan to offload 32.03 Lakh and 29.03 Lakh shares, respectively. Other individual shareholders, such as Gautam Dalmia, Nitish Mittersain, and Renaud Laplanche, are also looking to reduce their stakes.
The funds raised from the IPO are intended for expanding RentoMojo's offline presence, establishing warehouses, repaying debts, and supporting general corporate activities.
Founded in 2014 by Geetansh Bamania and Ajay Nain, RentoMojo operates in 22 cities with a portfolio of 7.29 Lakh products as of September 30, 2025. The company reported a profit after tax (PAT) of ₹61.4 Cr on operating revenue of ₹176.6 Cr for the six months ending September 30, 2025, which included a tax credit of ₹32.8 Cr.
In FY25, RentoMojo's net profit surged by 92% to ₹43.1 Cr, up from ₹22.4 Cr, while operating revenue grew by 38% to ₹266 Cr compared to ₹192.7 Cr the previous year.
Shortly before filing the DRHP, Ajay Nain, RentoMojo’s former COO and co-founder, approached the NCLT in Bengaluru, alleging mismanagement and seeking to halt the IPO. Nain, who departed the company in 2018, claims that incomplete information was provided during a 2023 share sale to the RM Employee Benefit Trust, which currently holds 48.93 Lakh treasury shares, equating to 4.83% of the company.
Nain is also requesting the restoration of his shares, the removal of the promoter from managerial roles, and a stoppage of the IPO process. In response, RentoMojo has filed caveats to ensure its side is heard in any proceedings.
Key Executives
Geetansh Bamania
Bamania serves as the chairperson, managing director, and CEO of RentoMojo since its inception. His previous experience includes roles at KPMG, Flipkart, and TrendSutra Client Services. In FY25, he received ₹1.4 Cr in remuneration.
Ketan Krishna
As the executive director and head of people & governance, Krishna has been with RentoMojo since 2018, overseeing organizational culture and leadership development. He earned ₹41.4 Lakh in FY25.
Prashanth Prakash
A partner at Accel, Prakash has been a non-executive nominee director on RentoMojo’s board since December 2024, without any remuneration for FY25.
Dr. Niddodi Subrao Rajan
Rajan has served as an independent director since January 2026, bringing over 20 years of experience in business management.
Deepali Nair
Nair joined the board as an independent director in January 2026, with extensive experience in business and marketing.
Dr. Sandesh Madhukar Kirkire
Kirkire has been an independent director since January 2026, with a background in finance and business.
Hakim Fakhruddin Ujjainwala
Ujjainwala, who became CFO in March 2026, has a background in finance and strategy, earning ₹74 Lakh in FY25.
Deepika N Bhandiwad
Bhandiwad is the company secretary and compliance officer, appointed in March 2026.
Prabhat Verma
Verma leads engineering and product since 2022, with a remuneration of ₹97.8 Lakh in FY25.
Akash Jangid
Jangid, head of business operations & experience, has been with RentoMojo since 2023, receiving ₹50.6 Lakh in FY25.
Rohan Ajeet Kulkarni
Kulkarni, vice president of finance and accounts, has been with the company since 2017, earning ₹40.7 Lakh in FY25.
