RentoMojo Files DRHP with SEBI, Eyes IPO to Accelerate Growth in Rental Economy

Furniture and appliance rental startup RentoMojo has taken a significant step towards going public by filing its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India. The proposed Initial Public Offering (IPO) will include a fresh issue of shares worth up to ₹150 crore, along with an offer for sale (OFS) of up to 2.84 crore shares by existing investors and promoters.

The OFS will see participation from prominent investors such as Accel, Chiratae Ventures, Edelweiss Mutual Fund, and GMO Venture Partners, among others. Additionally, cofounder Geetansh Bamania plans to partially divest his stake by selling up to 20.07 lakh shares through the offering.

Founded in 2014 by Geetansh Bamania and Ajay Nain, RentoMojo has emerged as a key player in India’s subscription-based rental economy, offering furniture, appliances, and home essentials on a flexible rental model. The platform caters primarily to urban consumers seeking affordability, convenience, and mobility, particularly millennials and young professionals.

Over the years, the company has built a strong operational footprint, currently serving customers across 22 cities in India through a network of 21 warehouses. As of September 30, 2025, RentoMojo reported a portfolio of over 7.29 lakh products, highlighting the scale and diversity of its offerings.

The IPO comes at a time when the rental and subscription economy is gaining traction in India, driven by changing consumer preferences and increasing demand for asset-light lifestyles. Instead of making large upfront purchases, consumers are increasingly opting for flexible ownership models, especially in categories like furniture and appliances.

The fresh capital raised through the IPO is expected to support business expansion, operational efficiency, and technology enhancements, enabling RentoMojo to further strengthen its market position. At the same time, the OFS will provide liquidity to early investors, reflecting confidence in the company’s growth journey.

RentoMojo’s public listing could also serve as a benchmark moment for India’s rental economy, showcasing the scalability and viability of subscription-based business models.

As the company moves forward with its IPO plans, all eyes will be on how it leverages its strong foundation to drive sustainable growth, expand its reach, and redefine consumption patterns in the evolving Indian market.