Rentomojo to launch IPO valuing it up to ₹4,246cr
Business
Rentomojo, the rental startup, is preparing for a major IPO that could value it at up to ₹4,246 crore, almost five times its 2024 private-market valuation.
The offer includes a fresh issue of ₹150 crore and an additional ₹1,106 crore worth of shares being sold by existing investors, including Accel, Chiratae Ventures, and ValueQuest.
SoftBank sells Meesho stake for ₹1,650cr
With this IPO, early Rentomojo investors are looking at some impressive returns: Accel could make over eight times its original investment.
Meanwhile, in another big move this week, SoftBank sold a chunk of its stake in Meesho for ₹1,650 crore. This marks SoftBank's first stake sale from Meesho since investing five years ago and leaves it with a solid profit, about 3.2 times its initial investment.