Company Overview
Rentomojo Limited operates India's largest technology-driven, full-stack direct-to-consumer online rental and subscription platform for furniture and appliances. The company serves 253,825 live subscribers across 29 Indian cities with 851,184 live items as of March 31, 2026, maintaining occupancy rates of 83.34%. Founded in 2012 by Geetansh Bamania, the company follows an asset-light model managing the entire asset lifecycle from procurement to refurbishment and redeployment.
Offer Details
The ₹12,556 million IPO comprises a fresh issue of ₹1,500 million and an offer for sale of ₹11,056 million by selling shareholders at ₹404 per share. The price band is set at ₹384-404 per equity share, with employee reservation offering ₹20 discount. Proceeds from the fresh issue will be utilized for debt repayment (₹1,200 million), lease payments for warehouses and experience stores (₹200 million), and general corporate purposes (₹100 million).
Financial Performance
Rentomojo demonstrated strong financial growth with revenue increasing from ₹1,927 million in FY24 to ₹3,870 million in FY26 (42% CAGR) and net profit growing from ₹224 million to ₹1,043 million (116% CAGR). The company achieved EBITDA of ₹1,635 million in FY26 with margins of 41.48% and return on equity of 43.51%. Total assets stood at ₹6,411 million as of March 31, 2026.
Business Model & Operations
The integrated asset-lifecycle model spans category management, designing, procurement, refurbishment, servicing, reverse logistics and multi-cycle redeployment. The company operates 20 warehouses (538,933 sq ft) and 82 experience stores across 17 cities, with 835 permanent employees and 1,772 contractual workforce. Rental revenue constitutes 97.9% of total revenue, with average subscription period of 18.04 months in FY26.
Risk Factors
Key risks include dependence on rental revenue, warehouse fire incident in June 2026 causing ₹110 million losses, ongoing legal proceedings including NCLT petition by former director Ajay Nain, GST litigations involving ₹24.49 million, and regulatory compliance challenges. The business faces competition from organized rental platforms and traditional ownership models, with seasonal demand patterns for certain appliances.
Market & Industry Context
India's home furniture and appliances rental market represents a TAM of ₹695.2 billion (2025) expected to grow at 11% CAGR to ₹1,172.1 billion by 2030. The organized rental market grew from ₹3.5 billion to ₹15.5 billion between 2021-2025 at 45% CAGR. Growth drivers include young demographics, urbanization, formal workforce participation, and shift toward asset-light lifestyles.
Capital Structure & Shareholding
Pre-IPO capital structure includes 100.4 million equity shares with promoters holding 21.72%. Major institutional investors include Accel India (20.92%), Edelweiss Discovery Fund (10.53%), Chiratae entities (8.96%), and ValueQuest Fund (6.92%). The company has ESOP schemes with 4,706 options outstanding representing 4.63 million shares upon full exercise.
Corporate Governance
The board comprises 6 directors including 3 independent directors. Key management includes Geetansh Bamania (MD & CEO), Ketan Krishna (Executive Director), Hakim Ujjainwala (CFO), and Deepika Bhandiwad (Company Secretary). The company maintains proper internal controls and has established various committees including audit, nomination, and stakeholder relationship committees.