Rentomojo IPO Day 3: QIB surges 598%; NII leads with 37.95x
- Rentomojo IPO subscribed 13.46 times on Day 3
- QIB demand surged 597.9% to 3.28x
- NII (bHNI) leads with 37.95x subscription
- Employee quota stands at 11.28 times
- Issue closes on 2026-09-11; listing on 2026-09-17
*this image is generated using AI for illustrative purposes only.
Rentomojo IPO is subscribed 13.46 times on Day 3, with Qualified Institutional Buyers (QIB) surging 597.9% to 3.28x. Non-Institutional Buyers (NII) lead the issue, with bHNI investors subscribing 37.95 times.
Subscription Status
The Rentomojo IPO has seen accelerating interest over the three-day bidding window. On Day 1, the issue was subscribed 1.34 times. By Day 2, the multiple rose to 4.33 times. On Day 3, the cumulative subscription reached 13.46 times as of the latest update.
| Day | Date | QIB | NII (bHNI) | NII (sHNI) | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 | 09-09-2026 | 0.41x | 2.99x | 1.89x | 1.48x | 1.34x |
| Day 2 | 10-09-2026 | 0.44x | 12.01x | 9.52x | 3.97x | 4.33x |
| Day 3 | 11-09-2026 | 3.28x | 33.17x | 37.95x | 9.47x | 13.46x |
Category-wise Breakdown
Non-Institutional Buyers (NII) are the clear leaders in the Rentomojo IPO. High Net Worth Individuals (bHNI) have subscribed 37.95 times, while Small HNI investors (sHNI) have subscribed 33.17 times. Retail investors have shown moderate interest, subscribing 9.47 times. Qualified Institutional Buyers (QIB) picked up pace significantly, with a subscription of 3.28 times. Employee quota stands at 11.28 times.
Intra-day Timeline
The subscription data for Day 3 reflects strong momentum throughout the day. QIB demand jumped +597.9% today (from 0.47x to 3.28x). NII (bHNI) jumped +57.6% today (from 21.05x to 33.17x). Retail jumped +50.6% today (from 6.29x to 9.47x).
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 11:15 | 0.47x | 21.05x | 6.29x | 7.79x |
| 12:15 | 1.26x | 18.99x | 4.76x | 7.49x |
| 13:15 | 3.28x | 33.17x | 9.47x | 13.46x |
Offer Details
- Price Band: ₹384.00000 - ₹404.00000
- Issue Size: ₹14208 crore - ₹500000 crore
- Min Bid Qty: 37 shares
- Open Date: 2026-09-09
- Close Date: 2026-09-11
What's Next
The Rentomojo IPO closes on 2026-09-11. Allotment is scheduled for 2026-09-15, and listing is expected on 2026-09-17.
About the Company
Rentomojo operates a technology-driven, full-stack direct-to-consumer online rental and subscription platform for furniture and appliances in India. Founded in 2012, it is the largest online rental platform for home furniture and appliances based on live subscribers and subscription revenue. As of March 31, 2026, the company reported 253,825 live subscribers across 29 cities. Led by CEO Geetansh Bamania, Rentomojo utilizes an integrated asset-lifecycle model spanning procurement, refurbishment, and multi-cycle redeployment.
Financial Highlights
Rentomojo has demonstrated consistent profitability over the last three fiscals. Revenue from operations grew from ₹192.70 crore in FY2024 to ₹386.99 crore in FY2026.
| Metric | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue from Operations (₹ crore) | 192.70 | 265.96 | 386.99 |
| Total Profit (₹ crore) | 22.41 | 43.11 | 104.30 |
| Total Assets (₹ crore) | 366.19 | 449.87 | 641.12 |
Objects of the Issue
- Repayment/prepayment of certain outstanding borrowings and accrued interest: ₹70.00 crore
- Payment of lease rental/license fee for warehouses and experience stores: ₹42.50 crore
- General corporate purposes including operating expenses and growth opportunities: Balance funds
Risk Factors
- Revenue Concentration Risk: 97.90% of revenue is derived from furniture and appliance rentals, making the business vulnerable to demand fluctuations in this single line.
- Vendor Dependencies: Top five suppliers represent 12.18% of total expenses; supply disruptions could impact service delivery.
- Geographic Concentration: 89.51% of revenue comes from the top 10 cities, creating exposure to local market conditions.
- Working Capital Constraints: The company reported negative working capital of ₹911.73 million and a current ratio of 0.55 as of March 31, 2026.
- Legal Proceedings: The company faces 16 legal proceedings with aggregate claims of ₹23.31 million.
How might the heavy subscription from bHNI and sHNI investors impact the initial listing price volatility compared to institutional demand?
Given the negative working capital and current ratio of 0.55, how will the IPO proceeds specifically address liquidity constraints to support the planned expansion into new cities?
What is the projected timeline for Rentomojo to diversify its revenue streams beyond the 97.9% concentration in furniture and appliance rentals to mitigate sector-specific risks?
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