RentoMojo Raises Rs 376 Crore from Anchor Investors Ahead of Its Rs 1,256 Crore IPO
Bengaluru-based furniture and appliance rental platform RentoMojo has raised Rs 376.07 crore from 41 anchor investors ahead of its IPO opening for public subscription, allotting 93.08 lakh equity shares at Rs 404 apiece, the upper end of its price band, valuing the company at nearly Rs 4,206 crore.
Here's who backed the anchor round. The list included heavyweight names like Goldman Sachs India Equity Portfolio, BlackRock Global Funds - India Fund, Kotak ELSS Tax Saver Fund, ICICI Prudential Quality Fund, HDFC Mutual Fund, Aditya Birla Sun Life Mutual Fund, Mirae Asset Great Consumer Fund, HSBC Mutual Fund, Invesco India, Motilal Oswal Mutual Fund and JM Financial Mutual Fund. Domestic mutual funds picked up 60.41 lakh shares, nearly 65% of the total anchor allocation, worth Rs 244.07 crore across 30 schemes from 16 mutual funds, while life insurance companies and pension funds took another 12.62 lakh shares worth around Rs 51 crore.
Here's how the full IPO is structured. RentoMojo's public issue totals Rs 1,255.6 crore, split between a fresh issue of Rs 150 crore and an offer for sale of 2.73 crore shares worth Rs 1,105.6 crore. The OFS includes early backers cashing out partially, Accel India, Edelweiss, Chiratae Ventures, ValueQuest, Madison India and GMO, alongside founder Geetansh Bamania. Motilal Oswal, Axis Capital and IIFL Capital Services are managing the issue as book-running lead managers.
The financial story behind the listing is genuinely strong. RentoMojo reported Rs 104.2 crore in restated profit after tax in FY26, up nearly 142% year-on-year, while operating revenue grew 45.5% to Rs 387 crore from Rs 266 crore in FY25, numbers that explain why institutional investors lined up for the anchor book at the top of the price band.
The IPO opened for public subscription on September 9 and closes on September 11, with listing tentatively scheduled for September 17 on both the NSE and BSE.
From furniture rentals to a nearly Rs 4,200 crore public listing, RentoMojo's anchor round is a strong signal heading into what promises to be a closely watched IPO week.
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— Sandeep Raiza