RentoMojo secures ₹376.1 Cr from anchor investors ahead of its September 9 IPO.
Furniture and appliance rental startup RentoMojo has successfully raised ₹376.1 Cr from a consortium of 41 anchor investors, ahead of its public issue scheduled for September 9. The company allotted 93.1 lakh equity shares at ₹404 per share, representing the upper end of its established price band.
Institutional participation was significant, with 16 domestic mutual funds acquiring 60.4 lakh shares—valued at approximately ₹244.1 Cr—across 30 schemes. This allocation accounts for 32.68% of the total anchor round. Additionally, five life insurance companies contributed to the round, securing 12.6 lakh shares for ₹51 Cr.
The anchor book saw robust interest from notable financial institutions, including Kotak Mahindra Trustee, Edelweiss, Invesco, HDFC, Motilal Oswal, Bajaj Finserv, JM Financials, and ICICI Prudential.
RentoMojo’s IPO structure includes a fresh issue of shares worth up to ₹150 Cr, alongside an offer for sale (OFS) of 2.7 crore shares. With a price band set between ₹384 and ₹404, the offering values the startup at approximately ₹4,206 Cr, or roughly $445.1 Mn, at the upper valuation threshold. The subscription period is slated to run from September 9 through September 11.
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