RentoMojo, the furniture and appliance rental startup, has filed its red herring prospectus with SEBI ahead of its IPO scheduled from September 9 to 11. The public issue includes a fresh issue worth ₹150 crore and an offer-for-sale of up to 2.7 crore shares, allowing early investors and cofounder Geetansh Bamania to reduce their stakes, according to inc42.com.
The IPO proceeds will be used to fund offline expansion, new warehouses, debt repayment, and general corporate needs. RentoMojo’s FY26 financials show a restated profit after tax of ₹104.2 crore, a 142% year-on-year increase aided by a one-time tax credit of ₹36.6 crore. Operating revenue rose 45.5% to ₹387 crore, while total expenses increased 41.5% to ₹323.8 crore, reflecting steady growth and improving profitability.
RentoMojo’s business model benefits from predictable subscription-based cash flows across 22 major urban markets, supported by a growing network of retail stores and fulfillment hubs. The startup’s move to scale offline presence aims to lower capital costs and enhance long-term operating leverage. This IPO marks a significant step for the rental sector, which has seen increasing investor interest in subscription-driven consumer services.
The IPO’s opening on September 9 will provide investors with detailed disclosures in the red herring prospectus, setting the stage for RentoMojo’s debut on the stock market and its plans to expand its offline infrastructure and market reach.