RentoMojo has filed its DRHP with SEBI on March 28, 2026, to raise up to Rs 1,200 crore through its IPO. The company reported Rs 266 crore revenue and Rs 43 crore profit in FY25. Get full details on IPORise.
RentoMojo, India's largest online furniture and appliance rental platform, has filed its Draft Red Herring Prospectus (DRHP) with SEBI on March 28, 2026. The company plans to raise up to Rs 1,200 crore through a mix of fresh issue and offer for sale. It reported a revenue of Rs 266 crore and a net profit of Rs 43 crore in FY25.
RentoMojo, the Bengaluru-based startup that lets you rent furniture and home appliances instead of buying them, has officially filed its Draft Red Herring Prospectus (DRHP) with SEBI on March 28, 2026. This is the first big official step towards its stock market listing, which is expected to happen in FY27.
What is RentoMojo?
Founded in 2014 by Geetansh Bamania and Ajay Nain, RentoMojo is a technology-driven platform that allows urban Indians to rent furniture, home appliances, water purifiers, baby care products, and medical equipment on a monthly subscription basis — instead of spending a large amount buying them outright. The idea is simple: why buy when you can rent?
The company mainly targets working professionals and students who move cities frequently for jobs or education and prefer a flexible, asset-light lifestyle. It currently operates across 22 cities, supported by a network of 21 warehouses, and has over 2.27 lakh active subscribers.
As per a Redseer report cited in the draft papers, RentoMojo holds an estimated market share of 42 to 47 percent in the organised online furniture and appliance rental segment, making it the largest player in this space.
What Does the IPO Look Like?
The proposed IPO consists of a fresh issue of equity shares worth up to Rs 150 crore and an offer for sale (OFS) of up to 2,83,99,567 equity shares by existing shareholders. IPO Central In simple terms, the fresh issue means the company will raise new money for itself, while the OFS means existing investors are selling a part of their shares to the public.
The total IPO size is expected to be between Rs 1,000 crore and Rs 1,200 crore, and the company is targeting a valuation of Rs 5,000 to Rs 7,000 crore for its listing.
Where Will the Money Go?
The company plans to use the money raised through the fresh issue for repaying debt, paying lease rentals or licence fees for its warehouses and experience stores, and for general business purposes.
How Is RentoMojo Doing Financially?
This is where the story gets interesting for investors. RentoMojo is not a loss-making startup — it has been profitable for three years in a row, which is quite rare among Indian tech startups.
In FY2025, the company reported revenue from operations of Rs 265.96 crore and a net profit of Rs 43.11 crore. To put this in perspective, its net profit zoomed 82 percent to Rs 40 crore from Rs 22 crore in FY24, while operating revenue grew 38 percent from Rs 193 crore in FY24.
Its EBITDA also improved significantly, rising to Rs 118.41 crore in FY25 from Rs 78.23 crore in FY24, reflecting better operating efficiency.
Who Are the Investors and Bankers?
RentoMojo has raised over Rs 650 crore across multiple funding rounds. Its notable investors include Accel, Chiratae Ventures, Bain Capital, Edelweiss Discovery Fund, and ValueQuest S.C.A.L.E. Fund.
Motilal Oswal Investment Advisors, Axis Capital, and IIFL Capital Services are the book-running lead managers for this IPO.
What Are RentoMojo's Future Plans?
Going forward, the company plans to focus on three key areas: expanding to more cities, adding new product categories to increase revenue per user, and ramping up procurement of furniture and appliances to support its growing subscriber base.
It has already entered newer cities like Ahmedabad, Jaipur, Mysuru, Chandigarh, and Kochi, though a significant share of revenue still comes from metro markets like Bengaluru, Delhi, Mumbai, and Hyderabad.
Should You Watch This IPO?
RentoMojo is one of the few profitable tech startups heading for an IPO in India. With a clear business model, strong market share, consistent profits, and a growing subscriber base, it is likely to attract good investor interest. The IPO date, price band, and subscription window will be announced once SEBI reviews and approves the DRHP.
Stay tuned to iporise.com for RentoMojo IPO dates, GMP (Grey Market Premium), subscription status, and allotment updates!