Rentomojo plans IPO to raise ₹1,256 cr, promoter stake 19.9%
Rentomojo, the furniture and appliance rental platform you might've seen online, is heading for an IPO to raise ₹1,256 crore.
The plan includes ₹150 crore as fresh funds for paying off debt and lease rentals, while the rest comes from selling existing shares.
After this move, the promoter group's stake will fall from 21.5% to 19.9%.
Revenue ₹387 cr, profits ₹104.3 cr
Between FY2024 and FY2026, Rentomojo's revenue jumped to ₹387 crore (up 41.7% annually), and profits more than doubled to ₹104.3 crore, even as occupancy rates dipped a bit.
Nearly half their money comes from renting out furniture, but things aren't all smooth: there's an ongoing legal dispute with co-founder Ajay Nain over a past stake sale, plus the legal battle may weigh on the stock after listing and the high IPO valuation.
If you're watching this stock post-listing, these are worth keeping in mind!