RentoMojo makes stock market debut at 19% premium

Furniture and appliance rental platform RentoMojo made its stock market debut on Thursday, September 17, with its shares listing at a nearly 19% premium over the IPO issue price. The company’s shares opened at Rs 482.45 on the NSE, compared with the issue price of Rs 404, marking a 19.42% premium. On the BSE, the stock debuted at Rs 480, translating into an 18.81% premium. The listing comes after strong investor demand for RentoMojo’s Rs 1,256 crore IPO. The issue was subscribed72.87 times, with the qualified institutional buyers (QIBs) portion receiving bids worth around 177.3 times the shares on offer. The non-institutional investor (NII) portion was subscribed 67.92 times, while the retail portion saw 15.58 times subscription. RentoMojo had fixed the IPO price band at Rs 384-404 per share. The issue comprised a fresh issue of Rs 150 crore and an offer for sale (OFS) worth around Rs 1,106 crore. This means nearly 88% of the issue came from existing shareholders selling their shares, while the company raised Rs 150 crore in fresh capital. The Bengaluru-based company operates a rental platform for furniture and home appliances, allowing consumers to rent products through monthly subscriptions. It caters mainly to urban households and operates across major Indian cities. RentoMojo competes with players such as Pepperfry, Furlenco and Cityfurnish. With its listing, the company has become the first in its segment to hit the IPO market. Earlier, Entrackr reported that several early RentoMojo investors are set to generate significant returns through the IPO, with some early backers expected to clock up to152X returnson their OFS. On the financial front, RentoMojo’s revenue from operations grew 45.5% year-on-year to Rs 387 crore in FY26. Its profit after tax jumped 142% to Rs 104.2 crore, compared with Rs 43.1 crore in FY25 The share price of Rentomojo is currently trading at Rs 502 (as of 10.12 AM), with a total market capitalisation of Rs 5,250 crore ($535 million). Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.

Original source: Entrackr