Allotment Finalisation and Subscription Details
The allotment of shares in Rentomojo's Rs 1,255.57-crore initial public offering (IPO) is scheduled to be finalised on September 15. According to NSE data, the public issue received bids for 158.68 crore equity shares against 2.18 crore shares on offer, resulting in an overall subscription of 72.88 times.
The Qualified Institutional Buyers (QIB) segment led the subscription at 177.29 times. The Non-Institutional Investor (NII) category was subscribed 67.93 times, while the retail investor portion saw a subscription of 15.59 times. The IPO, which opened on September 9 and closed on September 11, had a price band of Rs 384-404 per share, with a minimum lot size of 37 shares.
Grey Market Premium and Listing Expectations
Ahead of the allotment, Rentomojo shares are trading at a premium in the grey market. According to InvestorGain, the latest Grey Market Premium (GMP) is approximately Rs 158 per share. This implies an estimated listing price of Rs 562 at the upper end of the issue price band (Rs 404), translating to a potential listing premium of around 39.11 percent.
It is important to note that GMP is an unofficial indicator based on unregulated market transactions. It does not guarantee the actual listing price or future returns and should not be considered a measure of the company's financial performance.
Financial Performance and Use of Proceeds
Rentomojo, a subscription-based rental platform for furniture and appliances, reported strong financial growth. The company recorded a 142 percent year-on-year increase in profit to Rs 104.2 crore in FY26, up from Rs 43.1 crore in FY25. Revenue also rose by 45.5 percent to Rs 387 crore during the same period.
The IPO consists of a fresh issue of Rs 150 crore and an offer-for-sale (OFS) of up to 2.73 crore shares worth approximately Rs 1,105.57 crore. The fresh issue proceeds will primarily be used to reduce the company's debt and meet lease-related obligations. Specifically, Rs 70 crore is earmarked for repaying or prepaying borrowings and accrued interest, while Rs 42.5 crore will be used for lease rentals or licence fees for warehouses and experience stores. The remaining amount will be allocated to general corporate purposes.
Key Investors and Timeline
Ahead of the IPO, Rentomojo raised Rs 376.07 crore from anchor investors on September 8, allotting 93.08 lakh shares at Rs 404 per share. The anchor book included global investors such as BlackRock, Goldman Sachs, and Theleme Partners, along with domestic mutual funds from Kotak Mahindra AMC, ICICI Prudential AMC, HDFC AMC, and others.
Investors can check their allotment status through KFin Technologies (the registrar), BSE, or NSE websites. The basis of allotment is scheduled for September 15, with refunds and demat credit expected on September 16. The shares are set to list on both BSE and NSE on September 17.