About the Business
Incorporated in April 2012, Rentomojo Limited is India’s leading technology-driven, full-stack direct-to-consumer (D2C) rental and subscription platform for furniture and appliances. The company provides flexible, long-term subscription plans for essential home products, enabling consumers to rent, upgrade, and relocate furniture and appliances without upfront purchase commitments.
Rentomojo operates a closed-loop asset lifecycle model encompassing category planning, in-house product design, procurement, refurbishment, reverse logistics, and multi-cycle redeployment. This asset-management architecture drives high occupancy rates, extends asset operational lives, and maximizes return on invested capital.
- Substantial Scale: 253,825 active subscribers across 29 cities managing 851,184 live items in deployment as of March 31, 2026.
- Omni-Channel Footprint: Backed by a high-conversion digital web/app ecosystem alongside 82 physical experience stores across India.
- Logistics & Infrastructure: Operates 20 fulfillment warehouses covering 538,933 sq. ft., delivering an average turnaround time of 2.35 days and an 83.34% asset occupancy rate.
- Private Label Portfolio: Strong private-label presence, including proprietary appliances co-manufactured with Dixon Technologies and in-house branded water purifiers.
- Workforce: Supported by 835 permanent employees and 1,772 contractual personnel specialized in warehousing, delivery, repairs, and reverse logistics.
The company’s promoter is Geetansh Bamania.
Financial Overview
Rentomojo Ltd. has achieved significant operating leverage and accelerated profitability, with total revenue rising by 45% and Profit After Tax (PAT) surging by 142% between FY25 and FY26.
| Metric (₹ Cr) | FY 2026 | FY 2025 | FY 2024 |
|---|---|---|---|
| Total Income | ₹394.09 | ₹271.96 | ₹195.80 |
| Operating EBITDA | ₹163.46 | ₹118.44 | ₹78.15 |
| PAT (Profit After Tax) | ₹104.30 | ₹43.11 | ₹22.41 |
| Net Worth | ₹295.81 | ₹183.61 | ₹139.61 |
| Reserves & Surplus | ₹291.71 | ₹182.94 | ₹138.94 |
| Total Borrowings | ₹187.59 | ₹154.58 | ₹147.22 |
| Total Assets | ₹641.12 | ₹449.87 | ₹366.20 |
Restated Figures | Source: RHP Filings
Key Financial Metrics (FY26)
Issue Reservation
| Investor Category | Allocation Limit |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail (RII) Shares Offered | Not less than 35% of the Net Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Net Offer |
Objects of the Issue
The net proceeds from the fresh issue segment (₹150.00 Cr) are proposed to be allocated toward:
- Repayment/prepayment, in full or in part, of certain outstanding borrowings and accrued interest thereon ₹70.00 Cr
- Payment of lease rental/license fees for warehouses and experience stores ₹42.50 Cr
- General corporate purposes Balance
Rentomojo Limited is a rare, profitable consumer-tech company that has successfully cracked the unit economics of the circular subscription economy. The company boasts outstanding financial metrics, with an EBITDA margin of 41.48%, a net PAT margin of 26.95%, and an impressive ROE of 43.51% for FY26.
The issue is heavily weighted toward an Offer for Sale (₹1,105.57 Cr OFS vs. ₹150 Cr Fresh), providing liquidity exits to early venture capital backers including Accel, Chiratae, IDG Ventures, and Edelweiss. At the upper price band of ₹404, the stock is valued at a post-issue P/E of 40.73x and an offer-price market capitalization of ₹4,246.30 Cr. Given the high asset occupancy rate (83.34%), rapid multi-cycle payback, and strong consumer migration toward flexible living, this issue presents an attractive opportunity for growth-oriented investors.
