RentoMojo IPO 2026: Everything You Need to Know Before You Apply

RentoMojo’s ₹1,255.57 crore IPO opens on September 9 and closes on September 11, 2026, with a price band of ₹384–₹404 per share and listing expected on September 17. But there’s an important catch: only ₹150 crore will actually go to the company, while the remaining amount is an OFS by existing shareholders, including promoters and VC investors. 

Founded in 2012, RentoMojo lets customers rent furniture and appliances on subscription instead of buying them, with options to upgrade, return or relocate. The company manages the entire asset lifecycle, from procurement and refurbishment to redeployment across multiple rental cycles. It also has a private-label manufacturing tie-up with Dixon Technologies for refrigerators and washing machines.

As of March 2026, RentoMojo had 2,53,825 subscribers across 29 cities and 8,51,184 items in circulation. According to the RHP, it leads the organised rental market with 42–47% of subscription revenue and 50–55% of live subscribers. 

RentoMojo's numbers have moved sharply in the right direction over the last three years, and the improvement shows up across nearly every metric that matters; growth, margins, and returns. 

• Revenue grew at 41.71% CAGR, while PAT grew at 115.72% between FY24 and FY26. FY26 profit also got a boost from deferred tax asset recognition, so the PAT growth needs some context.  

   

• EBITDA margin expansion came from better operating leverage and asset utilisation as the business scaled.

   

• At the same time, finance costs fell sharply from 14.77% to 7.82% of expenses, showing the balance sheet is getting lighter as the company grows. 

• Market Leader: It commands 42–47% of subscription revenue and over half of live subscribers in the organised rental market, supported by its app, 82 experience stores and an asset model that allows products to be refurbished and rented out multiple times.

• Strong Utilisation: Occupancy has remained above 82%, while delivery time has improved from 4.06 days in FY23 to 2.35 days in FY26, showing better asset utilisation and operational efficiency.

• Repeatable Model: The same asset can be refurbished and rented across multiple cycles, helping RentoMojo improve asset utilisation while reducing the need to constantly buy new inventory. 

• Heavy OFS: Nearly 88% of the ₹1,255.57 crore issue is an OFS, so most of the money goes to existing shareholders. At the same time, investors are paying a premium valuation of around 40.7x P/E and 14.1x P/B.  

   

• Past Losses: RentoMojo has turned profitable, but accumulated losses still stand at around ₹121.7 crore in FY26, while borrowings remain at ₹258.3 crore as of June 2026.  

   

• Execution Risk: Occupancy has stayed below FY24 levels, falling from 86.43% to 83.34% by FY26. As RentoMojo expands into newer cities, customer retention and defaults will be key to watch. 

RentoMojo IPO is commanding a grey market premium (GMP) of ₹129 per share, as of September 8, 2026. At the upper price band of ₹404, this implies an estimated listing price of ₹533, or around 31.93% gain.

Based on grey market activity over the last five sessions, the GMP is trending upward, with the premium ranging between ₹79 and ₹155 during this period, indicating strong listing expectations.

Disclaimer: Grey Market Premium (GMP) is not regulated or recommended by the stock exchanges or SEBI. ArihantPlus does not endorse or facilitate trading in the grey market. Investors are advised to conduct their own research or consult an expert before making any investment decisions.

RentoMojo has a lot going for it: profitable growth, recurring revenue, category leadership and improving returns. But the IPO comes at a premium valuation, with most of the issue being an OFS rather than fresh capital for the business. The balance sheet has improved, but risks remain.

Ultimately, the IPO comes down to how much you believe in India’s rental economy and how comfortable you are with the valuation. Treat this as a starting point, read the RHP and apply based on your own risk appetite. 

When does the RentoMojo IPO open and close?

It opens on September 9, 2026, and closes on September 11, 2026.  

What's the price band and minimum investment?  

₹384 to ₹404 per share, with a lot size of 37 shares. One lot at the upper band costs ₹14,948. Retail applications can go up to about ₹1.94 lakh, beyond which the HNI category applies

What does RentoMojo actually do?  

It's a rental and subscription platform for furniture and home appliances, letting customers rent, return, upgrade, or relocate products instead of buying them outright, with the company managing the entire product lifecycle in-house.

What's the biggest risk with this IPO?  
Offer for sale component is about 88% of the total issue, so most proceeds go to the promoter and VC investors rather than the company.  

Who are the lead managers?  

Motilal Oswal Investment Advisors, Axis Capital, and IIFL Capital Services are the book-running lead managers, with KFin Technologies as registrar.

What is RentoMojo IPO's GMP today? 

RentoMojo's grey market premium has ranged between ₹125 and ₹149 per share over the last 24 hours, suggesting an estimated listing price of ₹529 to ₹553 — around 31% to 37% above the ₹404 upper price band. GMP is unofficial and unregulated, so treat it as a sentiment indicator rather than a forecast.

This article is for informational purposes only and does not constitute investment advice. Please review the RHP and consult a financial advisor before applying to the IPO.