RentoMojo Makes Stock Market Debut at 19% Premium, Stock Jumps Over 30% on Listing Day
Furniture and appliance rental platform RentoMojo made its stock market debut on Thursday, September 17, with shares listing at nearly a 19% premium over the IPO issue price. On the NSE, shares opened at Rs 482.45 against the issue price of Rs 404, a 19.42% premium, while on the BSE, the stock debuted at Rs 480, marking an 18.81% gain.
Here's how the debut day actually played out. The stock didn't stop at the opening premium, it rallied further, closing the day up 32.24% from the issue price at Rs 534.25, pushing RentoMojo's market capitalisation to roughly Rs 5,549 crore. That's a genuinely strong first-day performance for a company entering a segment that's never had a listed player before.
The IPO demand tells its own story. RentoMojo's Rs 1,256 crore issue was subscribed 72.87 times overall, with qualified institutional buyers leading the charge at around 177 times their reserved portion, non-institutional investors coming in at 67.92 times, and retail investors at 15.58 times. The company had priced its IPO in a band of Rs 384-404 per share, and the issue itself combined a fresh issue of Rs 150 crore with a larger offer for sale worth approximately Rs 1,106 crore from existing shareholders.
This listing carries real significance beyond just the numbers. RentoMojo becomes the first company in India's furniture and appliance rental segment to go public, ahead of competitors like Pepperfry, Furlenco and Cityfurnish, effectively setting the benchmark valuation for how public markets will price this entire category going forward.
The underlying business numbers support the market's enthusiasm. RentoMojo's revenue from operations grew 45.5% year-on-year to Rs 387 crore in FY26, while profit after tax jumped a striking 142% to Rs 104.2 crore, up from Rs 43.1 crore in FY25, genuine profitable growth rather than just a scale story.
From furniture rentals to a public market debut, RentoMojo's listing is proof that even niche, capital-intensive rental businesses can win over India's IPO investors when the profitability numbers back up the growth story.
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— Sandeep Raiza