Rentomojo IPO bidding moved into its second day on September 10, with the furniture and appliance rental company carrying a strong early demand signal from the opening session. The offer was subscribed 1.42 times on day one, while the retail portion reached 1.54 times, according to The Economic Times. The issue remains open until September 11.

The IPO has a price band of Rs 384 to Rs 404 per share. At the upper end, a retail applicant must bid for 37 shares, making the minimum application Rs 14,948 before applicable charges. The issue is valued at about Rs 1,255.57 crore and is scheduled to list on the NSE and BSE on September 17, subject to the published timetable.

The offer is weighted toward an offer for sale. The fresh issue consists of 37.15 lakh shares worth Rs 150 crore, while the offer for sale covers 2.73 crore shares valued at Rs 1,105.57 crore, The Economic Times reported. That structure means investors are evaluating both the company’s operating plans and the large secondary-sale component.

Demand was uneven across investor groups on the first day. The non-institutional investor portion was subscribed 2.46 times, while the retail portion reached 1.54 times. Qualified institutional buyers had subscribed 41% of their allocated portion at the time reported by The Economic Times. The figures can change during the remaining bidding period.

Rentomojo raised Rs 376 crore from anchor investors before the public issue opened, according to the same report. The company allotted 93 lakh shares to 41 anchor investors at Rs 404 each. Eligible employees are offered a discount of Rs 20 per share, and the employee reservation covers 52,083 shares.

The fresh proceeds are intended for defined corporate uses. Rentomojo plans to repay or prepay selected borrowings and related interest. It also plans to use part of the money for lease rentals and licence fees for warehouses and experience stores. The remainder is for general corporate purposes, according to the published IPO coverage.

CNBC TV18 described Rentomojo as a direct-to-consumer rental and subscription platform for furniture, appliances and other consumer durables. Customers can rent or subscribe to products such as beds, sofas, televisions, washing machines, refrigerators and water purifiers. The company also handles delivery, installation, maintenance and relocation.

The operating footprint reported by CNBC TV18 gives the issue a clear consumer-services angle. As of March 31, 2026, Rentomojo had 2.53 lakh live subscribers across 29 cities and 8.51 lakh live items. Its omnichannel network included 82 experience stores and 20 warehouses covering about 5.4 lakh square feet.

Revenue from operations increased from Rs 192.7 crore in financial year 2024 to Rs 387 crore in financial year 2026, CNBC TV18 reported. EBITDA rose from Rs 78.1 crore to Rs 163.4 crore during that period. The FY2026 profit figure of Rs 104.3 crore included a Rs 36.64 crore deferred-tax credit, a detail investors should separate from recurring operating performance.

The company’s risk disclosures include revenue concentration, subscriber defaults, early contract cancellations, working-capital needs and the cost of keeping rental assets occupied. CNBC TV18 reported that 98% of the top line came from renting. The grey-market premium stood at about Rs 143, or roughly 35% of the upper price band, in the latest Economic Times report, but the grey market is unofficial and does not guarantee a listing price or return.

The allotment is expected to be finalised on September 15, with listing planned for September 17. Investors tracking the Rentomojo IPO should therefore weigh the live subscription figures, the fresh-fund use and the company’s asset-utilisation risks together. None of those indicators alone establishes how the shares will trade after listing.