Rentomojo

Rentomojo offers flexible, long-term subscription plans letting consumers rent, return, upgrade, and relocate furniture and appliances without large upfront purchases or ownership commitments. Its portfolio spans beds, mattresses, washing machines, refrigerators, wardrobes, sofas, televisions, and water purifiers, comprising 851,184 live items as of March 31, 2026. The company runs an integrated asset-lifecycle model covering category management, product design, procurement, refurbishment, servicing, reverse logistics, and multi-cycle redeployment, operating omni-channel through its online platform and 82 experience stores across India.

As of March 31, 2026, the company had 253,825 live subscribers across 29 cities, operated 20 warehouses totaling 538,933 sq. ft., recorded an average delivery turnaround of 2.35 days in FY26, and maintained an 83.34% occupancy rate. It has expanded into private-label furniture and appliances, including refrigerators and washing machines made in partnership with Dixon Technologies (India) Limited, alongside its own branded water purifiers. As of March 31, 2026, the company had 835 permanent employees and 1,772 contractual workforce personnel.

Cited competitive strengths include consistent profitability as a D2C player since Fiscal 2023, a strong subscriber base and broad product portfolio, marquee institutional investors, predictable recurring revenue with high return on capital employed, omni-channel presence, category leadership in furniture/appliance rental and subscription in India, and a full-stack asset-lifecycle management model integrating e-commerce, subscription, and re-commerce.

The ₹1,255.57 Cr book-built IPO combines a fresh issue of ₹150.00 Cr (37.15 lakh shares) with an offer for sale of ₹1,105.57 Cr (2.74 crore shares) from the promoter and several institutional investors, including Accel India IV (Mauritius), Edelweiss Discovery Fund-Series I, IDG Ventures India Fund III, and ValueQuest S.C.A.L.E. Fund. The price band is ₹384–₹404 per share, with a lot size of 37 shares. Net proceeds from the fresh issue are earmarked for repayment/prepayment of borrowings (₹70.00 Cr) and lease/license fee payments for warehouses and experience stores (₹42.50 Cr), with the balance toward general corporate purposes — though the stated objects total doesn't fully reconcile with the fresh issue size (see Issue Details flag).

At the upper price band, the IPO is priced at a post-issue P/E of 40.73x (pre-issue: 39.26x) and a Price-to-Book multiple of 14.10x based on FY26 NAV of ₹28.65. RoNW rose sharply to 43.51% for FY26 from 26.67% in FY25. Revenue grew 45% and PAT grew 142% year-on-year between FY25 and FY26. Promoter shareholding is unusually low at 21.49% pre-issue, falling further to 19.94% post-issue — the company is majority owned by public/institutional shareholders reflecting its VC-backed history.