Online furniture and appliance rental platform Rentomojo Ltd on Friday fixed a price band of Rs 384-404 per equity share for its upcoming Rs 1,256-crore <a href="https://www.mid-day.com/business/business-news/article/arcils-rs-733-croreipo-to-open-on-september-9-price-band-set-at-rs-132139-23648128" target="_blank" rel="none noopener">Initial Public Offering (IPO)</a>.
At the upper end, the IPO implies a market capitalisation of about Rs 4,206 crore.
The IPO will open for public subscription on September 9 and close on September 11. The bidding for anchor investors will take place on September 8, according to a public announcement.
The IPO comprises a fresh issue of equity shares aggregating up to Rs 150 crore and an Offer For Sale (OFS) of 2.73 crore shares worth up to Rs 1,106 crore at the upper end of the price band.
At Rs 404 per share, the total issue size stands at Rs 1,256 crore.
<a href="https://www.mid-day.com/business/business-news/article/mahanadi-coalfields-files-draft-papers-with-sebi-coal-india-to-divest-10-per-cent-stake-23647996" target="_blank" rel="none noopener">The OFS</a> includes shares being sold by several existing shareholders, including Accel India IV (Mauritius) Ltd, Edelweiss Discovery Fund - Series I, IDG Ventures India Fund III LLC, ValueQuest S.C.A.L.E. Fund, Madison India Opportunities V VCC, Chiratae Trust, TM Naigama Investment Manager LLP, GMO Payment Gateway Inc, Geetansh Bamania, GMO GFF Ltd Partnership and Renaud Laplanche.
The company proposes to utilise the proceeds from the fresh issue towards payment of debt, payment of lease rentals or licence fees for its warehouses and experience stores, and for general corporate purposes.
Founded by Geetansh Bamania, the company operates a technology-driven, full-stack direct-to-consumer (D2C) platform offering rental and subscription services for furniture and home appliances across India.
Rentomojo is the largest player in the organised online rental segment for furniture and appliances, with an estimated market share of 42-47 per cent based on subscription revenue in FY25, as per a Redseer report cited in the draft papers.
Of the net offer, 50 per cent is reserved for QIBs, 15 per cent for NIIs and 35 per cent for retail investors, with an additional employee reservation of up to Rs 2 crore.
The equity shares are proposed to be listed on the BSE and the <a href="https://www.mid-day.com/business/business-news/article/nse-ipo-exchange-flags-dependence-on-trading-volumes-as-key-risk-23642228" target="_blank" rel="none noopener">NSE </a>on September 17.
Motilal Oswal Investment Advisors Ltd, Axis Capital Ltd and IIFL Capital Services Ltd are the book-running lead managers to the issue, while KFin Technologies Ltd is the registrar.&nbsp;

The issue comprises  fresh issue of equity shares worth Rs 150 crore and an offer for sale worth Rs Rs 1,106 crore

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The IPO comprises a fresh issue of equity shares aggregating up to Rs 150 crore and an Offer For Sale  of 2.73 crore shares worth up to Rs 1,106 crore at the upper end of the price band

Rentomojo to launch Rs 1,256-crore IPO on September 9; price band set at Rs 384-404 per share

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Home / Business / Business News / Article / Rentomojo to launch Rs 1,256-crore IPO on September 9; price band set at Rs 384-404 per share