RentoMojo, an online furniture and appliance rental platform, saw its initial public offering (IPO) subscribed 17.18 times by 13:27 IST on the final day of bidding. The IPO received bids for 37.41 crore shares against 2.18 crore shares on offer, according to BSE data. The ₹1,255.57 crore public issue includes a fresh issue worth ₹150 crore and an offer for sale (OFS) of up to 2.73 crore shares valued at ₹1,105.57 crore.
The non-institutional investors (NIIs) category led demand, with bids for 19.80 crore shares against 46.54 lakh shares on offer, resulting in a subscription of 42.54 times. Within NIIs, bids exceeding ₹10 lakh were subscribed 45.41 times, while bids between ₹2 lakh and ₹10 lakh were subscribed 36.81 times. Retail investors placed bids for 11.09 crore shares against 1.09 crore shares reserved, translating to a 10.21 times subscription. Qualified institutional buyers (QIBs) subscribed 10.41 times, and the employee portion was subscribed 11.82 times. Earlier, RentoMojo raised ₹376.1 crore from anchor investors by allotting 93.1 lakh shares at ₹404 apiece.
The strong subscription reflects robust investor interest in the rental and subscription economy sector, which has seen increased traction amid changing consumer preferences. RentoMojo’s IPO subscription levels compare favorably with other recent listings in the consumer services space, indicating confidence in its business model and growth prospects. The company plans to use around ₹70 crore of the fresh proceeds to repay debt, which could improve its financial health and operational flexibility.
RentoMojo’s shares are tentatively scheduled to list on stock exchanges on Thursday, September 17, marking a key milestone for the company and investors. The final subscription data and allotment details will be announced following the close of the IPO today.