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Rentomojo IPO: GMP signals 30% listing premium ahead of September 9 issue opening Bengaluru-based furniture and appliance rental company Rentomojo is set to open its initial public offering (IPO) for subscription on September 9, with its shares commanding a healthy premium in the grey market ahead of the issue. According to Investorgain, Rentomojo's shares were trading at a grey market premium (GMP) of Rs 123 over the upper end of its IPO price band of Rs 404 on September 7. At this premium, the implied listing price stands at around Rs 527, translating into a potential gain of about 30.45% over the issue price. Grey market premiums are unofficial indicators based on market activity and investor expectations. They are not regulated and do not guarantee the listing performance of a stock. Read Also: Nazara founder Nitish Mittersain's early Rentomojo bet set for 152X return The Rs 1,255-crore Rentomojo IPO will remain open from September 9 to September 11. The company has fixed the price band at Rs 384-404 per share. At the upper end of the price band, Rentomojo is seeking a valuation of around Rs 4,006.2 crore. The issue consists of a fresh issue of shares worth up to Rs 150 crore and an offer for sale (OFS) of 2.73 crore shares. The OFS component is valued at approximately Rs 1,105.5 crore at the upper price band. Existing investors, including Accel India, Edelweiss, IDG Ventures India, ValueQuest, Madison India and GMO, will sell shares through the OFS. Promoter Geetansh Bamania will also participate in the offer for sale. Bamania currently holds a 13.37% stake in Rentomojo. Accel India is the company's second-largest shareholder with a 12.71% holding, followed by Chiratae Ventures at 7.68%, Edelweiss Discovery Fund at 7.42% and ValueQuest at 6.02%. The anchor investor bidding will take place on September 8, a day before the public issue opens. The basis of allotment is expected to be finalised on September 15, with the shares likely to debut on the stock exchanges on September 17. Rentomojo has also reserved shares worth Rs 2 crore for eligible employees. The employee portion will be offered at a discount of Rs 20 per share to the final issue price. After excluding the employee reservation, 50% of the net issue has been reserved for qualified institutional buyers (QIBs), while retail investors will have a 35% allocation and non-institutional investors (NIIs) will be allotted 15%. The company plans to deploy Rs 70 crore from the fresh issue towards repayment of certain borrowings. Rentomojo's total borrowings stood at Rs 258.3 crore as of June 2026. Check IPO News Here Another Rs 42.5 crore has been earmarked for lease rentals or licence fees for its warehouses and experience stores. The remaining funds will be used for general corporate purposes. Rentomojo operates a technology-led, direct-to-consumer (D2C) rental and subscription platform focused on furniture and appliances. As of March 2026, it had 20 warehouses and 82 experience stores across its network, all operated on leasehold properties. The company said it is India's largest online rental and subscription platform for home furniture and appliances based on live subscribers. Rentomojo reported a net profit of Rs 104.2 crore for the financial year ended March 2026, more than twice the Rs 43.1 crore profit recorded a year earlier. Revenue rose 45.5% year-on-year to Rs 387 crore in FY26 from Rs 266 crore in FY25. Motilal Oswal Investment Advisors, Axis Capital and IIFL Capital Services are the book-running lead managers to the issue. Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.