Rentomojo is one of the few new-age consumer platforms hitting the IPO market with genuine, non-adjusted profitability — a rarity in this space. But the valuation isn’t cheap, and the issue structure leans heavily toward existing investors cashing out. Here’s the full breakdown.
What the company does
Rentomojo runs a subscription-based furniture and appliance rental platform — the pitch is simple: rent a sofa, a fridge, a washing machine or a bed instead of buying one outright, and swap, upgrade or return it as your life changes. It buys the inventory itself, then re-rents each piece across multiple cycles before eventually refurbishing or reselling it. The company operates across 29 Indian cities and, by revenue, is the largest online rental platform in the country by live subscribers and subscriptions.
Key dates
| Event | Date |
|---|---|
| IPO opens | September 9, 2026 |
| IPO closes | September 11, 2026 |
| Allotment finalisation | September 15, 2026 |
| Listing on NSE & BSE | September 17, 2026 |
Price band and lot size
The band is ₹384 to ₹404 per share, with a lot size of 37 shares — about ₹14,948 for one retail lot at the upper price.
Issue structure
This is a ₹1,255.57 crore issue, and it’s heavily skewed toward existing investors cashing out: only ₹150 crore is fresh issue, while roughly ₹1,105 crore — close to 88% of the total offer — is offer for sale. Post-issue, promoter holding drops to under 20%.
GMP today
Rentomojo’s grey market premium has been genuinely volatile, swinging from around ₹33 a few days before opening to a peak near ₹170, before settling in the ₹115 to ₹135 range as the issue got closer to opening — roughly a 28-33% expected premium at current levels. That kind of back-and-forth suggests grey market participants themselves are still working out what this one is worth.
Company review — should you apply?
There’s a lot to like on the surface: revenue grew 45% to ₹394 crore in FY26, profit after tax more than doubled to ₹104 crore, and margins have genuinely improved — PAT margin moved from around 16% to nearly 27% in a single year. It’s also one of the few new-age consumer platforms hitting the market with real, not adjusted, profitability.
But the capital-intensity of the business is the part that’s easy to gloss over — furniture and appliances have to be bought, stored, moved, maintained and refurbished before they earn a rupee, which is a very different risk profile from an asset-light tech platform. The company also carries negative retained earnings of roughly ₹122 crore from years of prior losses, revenue concentration in Tier-1 metros running close to 89%, and at the upper band, a valuation of around 40 times FY26 earnings with no clean listed peer in India to benchmark against. This is a stronger business than most loss-making consumer-tech IPOs that have come before it, but it isn’t cheap, and the near-88% OFS means very little of your money actually funds growth.
Frequently Asked Questions
What is the Rentomojo IPO price band?
₹384 to ₹404 per share, with a lot size of 37 shares.
Is Rentomojo profitable?
Yes — profit after tax more than doubled to ₹104 crore in FY26, with PAT margin expanding from around 16% to nearly 27%.
What’s the main risk in Rentomojo IPO?
Nearly 88% of the issue is offer for sale, valuation sits around 40 times FY26 earnings with no clean listed comparable, and the business is capital-intensive relative to typical “asset-light” tech platforms.
Conclusion
Rentomojo brings a genuinely rare combination to the IPO market — real growth and real profit in a new-age consumer business. But the price tag reflects that rarity, and the heavy OFS component means the listing does relatively little to fund the company’s own future growth. Weigh the valuation against your own conviction in the rental-over-ownership trend before applying.
GMP figures mentioned above are unofficial, unregulated grey market indicators that change frequently. They are not a guarantee of listing price. Please review the RHP and consult your financial advisor before applying.