RentoMojo Files RHP, Trims OFS To 2.7 Cr Shares
Months after receiving the markets regulator’s nod for its IPO, furniture and appliance rental startup RentoMojo has filed its red…
RentoMojo, a rental platform for furniture and appliances, has filed its red herring prospectus with the Securities and Exchange Board of India following its IPO approval. The startup aims to raise ₹150 Cr through a fresh share issue, but has reduced the offer for sale to 2.7 Cr shares, down from 2.84 Cr shares initially planned.
Major investors include Accel, Chiratae Ventures, Edelweiss Mutual Fund, and GMO Venture. The OFS will allow investors to sell their shares. Co-founder Geetansh Bamania plans to sell up to 8.5 Lakh shares as part of the issue. The IPO will open for subscription on September 9 and close on September 11, with anchor bidding taking place on September 8.
The funds raised will be utilized for expanding RentoMojo's physical presence, establishing new warehouses, repaying certain borrowings, and other general corporate purposes.
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