Strong Buying Lifts Rentomojo On Listing Day, Shares Jump More Than 19% In Opening Trade
· Free Press Journal
Mumbai: Rentomojo shares made a strong debut on Thursday, surging more than 19% over the IPO issue price of ₹404.
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The company listed at ₹480 on the BSE, up 18.81%. On the NSE, Rentomojo shares opened at ₹482.45, delivering a higher listing gain of 19.41%.
Following the debut, the company’s market capitalisation stood at ₹5,345.78 crore.
IPO receives heavy demand
Rentomojo’s ₹1,256-crore initial public offering attracted investor participation and was subscribed 72.88 times on the bidding day.
The company had set the IPO price band at ₹384–₹404 per equity share. The issue included a fresh share sale worth up to ₹150 crore and an offer for sale of 2.73 crore shares by investors.
Rentomojo IPO Set To Hit Dalal Street With ₹1,256-Crore Issue, Price Band Fixed At ₹384-404 Per ShareAt the upper end of the price band, the offer-for-sale component was valued at ₹1,106 crore.
Anchor investors provide support
Ahead of the public issue, Rentomojo raised ₹376 crore from anchor investors. The anchor book included leading global institutions such as Goldman Sachs Funds and BlackRock Global Funds.
Their participation added institutional support to the IPO before bidding opened for retail and other investors.
Technology-driven rental platform
Founded by Geetansh Bamania, Rentomojo operates a technology-led, full-stack direct-to-consumer platform for renting furniture and home appliances across India.
Its subscription-based model allows customers to access beds, sofas, tables, refrigerators, washing machines and other household products without making large upfront purchases.
After A Decade-Long Wait, NSE Opens Its Doors To Public InvestorsThe company handles sourcing, delivery, installation, maintenance, relocation and collection, offering an integrated rental experience.
Rentomojo’s listing performance reflects the strong demand seen during the IPO. Investors will now track the company’s revenue growth, customer expansion, profitability and ability to scale its furniture and appliance subscription business.
The stock’s movement after the initial listing enthusiasm will also offer clues about sustained investor confidence in India’s growing rental economy.