RentoMojo IPO Details
The RentoMojo IPO is a book-built issue of ₹1,255.57 crore. The price band is set at ₹383 to ₹404 per share. One lot has 37 shares. So, if you apply at the upper end of the price band, you’ll need around ₹14,948 for one lot.
The IPO will open on September 9 and close on September 11, 2026. If you apply and get the allotment, the shares are expected to list on both NSE and BSE on September 17, 2026.
Here’s a quick look at the IPO details:
RentoMojo’s business at a glance
The idea behind RentoMojo is simple. Instead of buying furniture or appliances, you can rent them and pay every month. If you’ve just moved to a new city, this monthly subscription model makes sense. RentoMojo lets you use these products without making a big upfront payment.
As of March 2026, RentoMojo had more than 2.5 lakh live subscribers across 29 cities and over 8.5 lakh live products.
The company mainly serves young professionals, students and people living in rented homes. It also manages the products after rental, such as maintenance, collection, refurbishment, and resale.
How will RentoMojo use the IPO money?
The ₹1,255.57 crore RentoMojo IPO has two parts. One is a fresh issue of ₹150 crore, while the remaining ₹1,105.57 crore is an Offer for Sale (OFS). In an OFS, the existing investors sell some of their shares. So that money goes to those shareholders, not the company.
So, as it turns out, RentoMojo will actually get only ₹150 crore from this IPO. Here’s how they are planning to use these funds:
How are RentoMojo’s Financials?
The financials tell you if the company is actually making money. The good news is that RentoMojo has been growing its revenue and profits over the last few years.
RentoMojo’s revenue went from ₹192.70 crore in FY24 to ₹386.98 crore in FY26. That means they more than doubled their revenue in two years. Their profits also rose sharply during that period. This is a positive sign as RentoMojo is not just growing its business but also improving profitability. However, it still has borrowings of ₹187.59 crore in FY26.
Pros of Investing in RentoMojo IPO
- Strong growth: RentoMojo has grown its revenue and profits consistently over the past few years. This shows the business is getting bigger.
- Rise in rental demand: Renting can make sense for people who move cities often or don’t want to spend a lot on new items. This gives RentoMojo a clear customer base.
- Products can be rented again: The company collects products after a rental period, refurbishes them and rents them out again. This helps it earn from the same product more than once.
Cons of Investing in RentoMojo IPO
- Most of the IPO money is OFS: Around ₹1,105.57 crore of the ₹1,255.57 crore IPO is an Offer for Sale. So, most of the money raised will go to existing shareholders, not RentoMojo.
- Business needs physical products: Despite being a tech-driven company, RentoMojo needs to spend money on furniture and appliances. These products also need maintenance and refurbishing.
- Rental demand can change: Not everyone prefers renting. Some customers may choose to buy products instead. That shift can affect the company’s business.
- Competition: RentoMojo operates in a competitive market and needs to keep its products and prices attractive to retain customers.
Should you apply for this IPO?
RentoMojo has a growing business, rising revenue and strong profit growth. Its business also fits the needs of many young people who prefer flexibility over buying everything upfront. But there are things to consider, such as an OFS-centric IPO, outstanding borrowings and a business that depends on people’s choice to rent.
So, understand the pros and cons and your investment goals before deciding whether to apply for the RentoMojo IPO.
How to Apply for IPO on Millions?
If you decide to apply for the RentoMojo IPO, submitting an application on Millions only takes a few minutes:
- Install and open the Millions app on your phone.
- Go to the Stocks section and click on IPO.
- Find RentoMojo in the list and click on Apply for IPO.
- Enter the number of lots you want to apply for and choose your bid price.
- Add your UPI ID to connect your payment account.
- Submit your application and approve the UPI mandate to complete the process.
