RentoMojo, a furniture and appliance rental startup, has filed its draft red herring prospectus (DRHP) with SEBI, signaling its intent to become the first furniture rental company to go public in India. The IPO includes a fresh issue of shares up to ₹150 Cr and an offer for sale (OFS) of up to 2.84 Cr shares.
The IPO allows partial exits for investors like Accel India, Edelweiss Discovery Fund, ValueQuest, Madison India Capital, Chiratae Ventures, International Finance Corporation, and GMO Payment Gateway. Promoter and co-founder Geetansh Bamania plans to sell 20.07 Lakh shares.
Accel India, the largest shareholder, intends to sell 78.47 Lakh shares. Edelweiss Discovery Fund and Chiratae Ventures plan to sell 32.03 Lakh and 29.03 Lakh shares, respectively.
The startup will use the fresh capital to expand its offline presence, set up warehouses, repay debt, and for general corporate purposes.
Founded in 2014 by Bamania and Ajay Nain, RentoMojo offers subscription-based rentals for furniture, appliances, and home essentials across 22 cities, operating from 21 warehouses with 7.29 Lakh products as of September 30, 2025.
In the six months ending September 30, 2025, RentoMojo reported a profit after tax (PAT) of ₹61.4 Cr on operating revenue of ₹176.6 Cr, including a tax credit of ₹32.8 Cr. For FY25, net profit rose 92% to ₹43.1 Cr, while operating revenue increased 38% to ₹266 Cr.
Just before filing the DRHP, RentoMojo’s ex-COO and co-founder Nain moved the NCLT’s Bengaluru bench, alleging oppression and mismanagement, demanding a hold on the IPO. Nain, who left in 2018, claims incomplete information was shared during a 2023 share sale to the RM Employee Benefit Trust, which now holds 48.93 Lakh treasury shares, or 4.83% of the company.
He has sought the restoration of his shares, removal of the promoter from managerial roles, and prevention of the IPO. RentoMojo has filed caveats to ensure no orders are passed without hearing its side.
RentoMojo’s Board and Key Executives
Board of Directors:
- Geetansh Bamania: Chairperson, MD, and CEO. In FY25, received ₹1.4 Cr, with a ₹43.1 Lakh bonus paid in FY26.
- Ketan Krishna: Executive director and head of people & governance. In FY25, received ₹41.4 Lakh.
- Prashanth Prakash: Accel partner, non-executive nominee director since December 2024. Did not receive remuneration during FY 25.
- Dr Niddodi Subrao Rajan: Independent director since January 2026.
- Deepali Nair: Independent director since January 2026.
- Dr Sandesh Madhukar Kirkire: Independent director since January 2026. Did not receive remuneration for FY25.
Key Managerial Personnel:
- Hakim Fakhruddin Ujjainwala: CFO since March 2026. In FY25, drew a remuneration of ₹74 Lakh.
- Deepika N Bhandiwad: Company secretary and compliance officer since March 2026.
Senior Management Personnel:
- Prabhat Verma: Head of engineering and product since 2022. In FY25, received ₹97.8 Lakh.
- Akash Jangid: Head of business operations & experience since 2025. For FY25, total remuneration stood at ₹50.6 lakh.
- Rohan Ajeet Kulkarni: VP- finance and accounts since 2017. In FY25, received ₹40.7 Lakh.
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