India’s rental economy is heading to the public markets with a number attached. Rentomojo, the furniture and appliance subscription service, has fixed its IPO price band at Rs 384-404 per share, targeting Rs 1,256 crore (about $150M) in an issue that opens September 9 and closes September 11.
The upper end of the band values the company near Rs 4,206 crore, roughly $500M after the offer. Listing on the NSE and BSE is expected September 17. Only Rs 150 crore of the raise is a fresh issue that flows to Rentomojo; the rest is an offer for sale in which Accel India, Chiratae Trust, Edelweiss Discovery Fund, IDG Ventures India Fund III and GMO Venture Partners sell down. Co-founder Geetansh Bamania also plans to offload shares and will hold about 13.37% afterward, keeping him the largest investor ahead of Accel’s 12.71%.
The financials explain the listing appetite. Operating revenue reached Rs 387 crore in FY26, up 45.5%, with reported net profit of Rs 104.3 crore. A Rs 36.6 crore deferred tax credit flatters that figure; underlying profit sits near Rs 67.7 crore, still up sharply from roughly Rs 43 crore the prior year.
Founded in 2014 by Bamania and Ajay Nain, Rentomojo buys furniture, rents it repeatedly to young urban tenants, then refurbishes and redeploys each item, so a well-used sofa can out-earn its purchase price across cycles. Draft papers landed in March; anchors bid on September 8.
