Rentomojo IPO: Early Investors Set for Up to 152X Returns Through the Offer-For-Sale
Bengaluru-based furniture and appliance rental platform Rentomojo's upcoming IPO is set to generate eye-popping multi-fold returns for several of its early investors, with existing shareholders looking to offload shares worth Rs 1,106 crore through the offer-for-sale component.
Here's who stands to gain the most. According to an analysis based on the company's offer documents and the upper IPO price band of Rs 404 per share, Nazara Technologies founder Nitish Mittersain, whose investment in Rentomojo was actually his very first startup bet, is selling shares worth around Rs 6 crore through the OFS, a stake that could fetch him roughly 152X returns. Rajeev Chitrabhanu HUF follows as another major beneficiary, with its Rs 12.4 crore OFS potentially generating around 26.6X returns.
The institutional investors are seeing solid, if less dramatic, gains too. Accel India is set to earn around 8.63X returns on its Rs 317 crore share sale, Madison India could clock roughly 7.22X on its Rs 96.9 crore OFS, while ValueQuest and Edelweiss are each expected to earn around 5.4X on OFS shares worth Rs 109.6 crore and Rs 116.5 crore respectively. Chiratae Ventures is likely to see about 4.93X returns on its Rs 194.1 crore stake sale, and GMO could earn approximately 4.24X on its Rs 95.1 crore share sale.
The IPO itself is sized at Rs 1,255.6 crore in total, split between a Rs 150 crore fresh issue and this roughly Rs 1,105.6 crore OFS, with a price band of Rs 384-404 per share valuing Rentomojo at about Rs 4,200 crore at the top end. Founder Geetansh Bamania is also selling shares worth Rs 34.3 crore as part of the offer, alongside other participants including Japan's Mitsui Sumitomo Insurance Venture Capital and Renaud Laplanche.
The business fundamentals back up investor confidence here. Revenue rose 45.5% year-on-year to Rs 387 crore in FY26, while profit after tax jumped a striking 142% to Rs 104.2 crore, with the company now serving 2.54 lakh live subscribers across 29 cities through 20 warehouses and 82 experience stores.
From a founder's very first startup bet to a 152X exit, Rentomojo's IPO is turning out to be one of this year's most rewarding early-investor stories.
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— Sandeep Raiza