Rentomojo Raises Rs 376 Crore from Anchor Investors Ahead of Its Rs 1,256 Crore IPO
Bengaluru-based furniture and appliance rental platform Rentomojo secured Rs 376.07 crore from anchor investors a day before its IPO opened for public subscription on September 9, allotting 93.08 lakh equity shares at Rs 404 apiece, the upper end of its price band, implying a valuation of roughly Rs 4,200 crore.
Here's who backed the anchor round. It saw strong institutional participation from names like Kotak ELSS Tax Saver Fund, ICICI Prudential Quality Fund, Goldman Sachs India Equity Portfolio, BlackRock Global Funds India Fund, HDFC Mutual Fund, Aditya Birla Sun Life Mutual Fund, Mirae Asset, HSBC Mutual Fund and Motilal Oswal, among others. Domestic mutual funds took the lion's share, picking up 60.41 lakh shares, about 65% of the anchor allocation, across 30 schemes from 16 fund houses, worth Rs 244.07 crore. Life insurance companies and pension funds added another 12.62 lakh shares worth Rs 51 crore.
The IPO structure itself tells an interesting story. Rentomojo aimed to raise Rs 1,255.6 crore in total, but only Rs 150 crore of that was a fresh issue actually going into the company's own accounts, the remaining Rs 1,105.6 crore came from an offer-for-sale by existing investors including Accel India, Edelweiss, Chiratae Ventures, ValueQuest, Madison India and GMO, along with founder Geetansh Bamania selling down part of his own stake. Motilal Oswal, Axis Capital and IIFL Capital Services managed the book.
The market clearly liked what it saw. The IPO ultimately got subscribed 73 times its offer size across the three-day bidding window, with qualified institutional buyers leading demand at over 177 times their reserved portion, non-institutional investors at around 68 times, and retail investors at about 16 times. On listing day, shares opened at a 19% premium over the issue price and climbed as high as 30% above it during the session.
Founded in 2012, Rentomojo runs a full-stack rental and subscription platform for home furniture and appliances, letting customers rent, return, upgrade or relocate products without large upfront purchases, with over 851,000 live items on its books as of March 2026.
From a Rs 376 crore anchor vote of confidence to a 73X-subscribed IPO, Rentomojo's public market debut is a strong signal that India's rental-economy bet is finally being taken seriously by institutional money.
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— Sandeep Raiza