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RentoMojo Lists at 19% Premium After Strong IPO Demand

By Stocks Desk · 2026-09-17 · 1 min read
A modern living room interior featuring a sofa and a television set
Illustration: Tradingbird

RentoMojo shares opened 19.42% above the issue price, reflecting robust institutional and retail subscription for the furniture rental platform's debut.

RentoMojo, a Bengaluru-based furniture and appliance rental platform, completed its stock market debut on September 17 with shares trading at a 19.42% premium over the issue price. The stock opened at Rs 482.45 on the NSE and Rs 480 on the BSE, against an IPO price band capped at Rs 404 per share. This listing marks the first time a company in this specific rental segment has accessed the Indian public equity markets, positioning it against competitors like Pepperfry and Furlenco.

The strong opening price follows significant demand during the subscription phase, where the issue was subscribed 72.87 times overall. Institutional investors drove this interest, with the qualified institutional buyers (QIB) segment receiving bids 177.3 times the shares offered. Retail investors also participated heavily, subscribing 15.58 times to their allotted portion. According to reports from GN stocks/ipo, early backers are positioned to realize substantial returns, with some expected to see gains up to 152 times on their offer for sale (OFS) stakes.

Financial Growth Drives Investor Interest

RentoMojo’s financial performance supports the market enthusiasm, showing a 45.5% year-on-year increase in revenue from operations to Rs 387 crore in FY26. Profitability expanded significantly, with profit after tax rising 142% to Rs 104.2 crore, compared to Rs 43.1 crore in the previous fiscal year. The company’s business model, which relies on monthly subscriptions for furniture and appliances, targets urban households across major Indian cities, creating a recurring revenue stream that distinguishes it from traditional e-commerce players.

Capital Structure and Market Capitalization

The IPO structure comprised a fresh issue of Rs 150 crore and an offer for sale worth approximately Rs 1,106 crore, totaling Rs 1,256 crore. This means nearly 88% of the funds raised came from existing shareholders selling their holdings, while the company itself raised only Rs 150 crore in new capital. As of 10:12 AM on debut day, the stock traded at Rs 502, valuing the company at a market capitalization of Rs 5,250 crore, or roughly $535 million.

Based on reporting by Entrackr, compiled by the Tradingbird desk.

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