Rentomojo, the Accel-backed furniture and appliance rental platform, has filed its Red Herring Prospectus (RHP) for its initial public offering (IPO). The Bengaluru-based company is looking to raise around Rs 1,255.6 crore through the IPO, which will comprise a fresh issue of Rs 150 crore and an offer-for-sale (OFS) of around 2.73 crore shares worth Rs 1,105.6 crore. The company has fixed a price band of Rs 384-404 per share, valuing Rentomojo at around Rs 4,200 crore at the upper end. The IPO will open for subscription on September 9 and close on September 11, while anchor investors can bid on September 8. Existing investors, including Accel India, Edelweiss, IDG Ventures India, ValueQuest, Madison India and GMO, along with founder Geetansh Bamania, will sell shares through the OFS. Rentomojo plans to use the fresh issue proceeds primarily to strengthen its balance sheet. About Rs 70 crore will go towards debt repayment, while another Rs 42.5 crore will be used for lease rentals and licence fees for its warehouses and experience stores. According to the company’sDRHP, Accel India is the largest shareholder with a 20.92% stake, followed by founder Geetansh Bamania and Chiratae Ventures with 14.69% and 13.69%, respectively. Edelweiss Discovery Fund holds 10.53%, while ValueQuest S.C.A.L.E Fund commands 8.92%. Financially, Rentomojo has continued to grow while remaining profitable. Its revenue from operations rose 45.5% year-on-year to Rs 387 crore in FY26, compared with Rs 266 crore in FY25. Profit after tax jumped 142% to R 104.2 crore from Rs 43.1 crore in the previous fiscal. As of March 2026, Rentomojo had 2.54 lakh live subscribers across 29 cities. The company operates through 20 warehouses and 82 experience stores. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
