Rentomojo eyes Rs 1,256 cr IPO

Bengaluru: Bengaluru-based furniture and home-appliance rental platform Rentomojo is set to enter the public markets at a valuation of around Rs 4,246 crore, nearly five times the valuation it commanded in its last private funding round in 2024.The company has fixed a price band of Rs 384-404 per share for its initial public offering (IPO), which will open for subscription on September 9 and close on September 11. The shares are expected to list on September 17.Rentomojo will raise Rs 150 crore through a fresh issue of shares, while existing investors, including Accel, Chiratae Ventures and ValueQuest, will sell shares worth around Rs 1,106 crore. The overall issue size is about Rs 1,256 crore.Unlike conventional retailers, Rentomojo allows customers to rent products such as beds, sofas, refrigerators, washing machines and televisions through subscription plans rather than buying them outright. The company manages these products through their lifecycle, including procurement, refurbishment, servicing and reverse logistics.As of March 2026, Rentomojo had more than 2.5 lakh live subscribers across 29 cities, according to its IPO documents. It reported operating revenue of Rs 387 crore in FY26, up 45.5% from the previous year, while its net profit more than doubled to Rs 104.3 crore.The proposed valuation marks a sharp increase from the Rs 850-900 crore valuation at which Rentomojo last raised private capital in 2024. Accel and Chiratae Ventures, which backed the company in its early stages, are among the investors seeking to sell shares through the IPO.Get the latest Business News and Live updates. Download the TOI app.