Rentomojo Limited

Company Overview

• Name: Rentomojo Limited (formerly Rentomojo Private Limited and Edunetwork Private Limited)
• Incorporation: April 2012
• Business Model: Technology-driven, full-stack D2C online rental and subscription platform
• Market Position: Commands an estimated 42% to 47% share of India's organized home furniture and appliances subscription revenue
• Core Value Proposition: Consumer financial flexibility and low upfront costs, offering easy returns, upgrades, free relocations, and zero maintenance

Target Demographics & Network Scale

• Target Audience: Highly mobile urban consumers, including young working professionals, corporate consultants, and tech managers
• Customer Reach (as of March 31, 2026):
• Active Subscribers: 253,825 live subscribers
• Geographic Coverage: 29 cities across India

• Omnichannel Distribution:
• Direct-to-consumer online platform
• 82 physical experience stores

• Core Categories: Beds, wardrobes, mattresses, refrigerators, washing machines, televisions, and water purifiers
• Lifecycle Management: End-to-end management of 11 consumer touchpoints (underwriting, delivery, installation, repairs, reverse logistics)

Asset Portfolio & Supply Chain Infrastructure

• Operating Model: Asset-light consumer subscription model (no direct manufacturing factories)
• Warehousing Footprint: 20 warehouses across India spanning an aggregate 538,933 sq. ft. (as of March 31, 2026)
• Sourcing Strategy: Dual approach combining contract OEM agreements with private-label expansion
• Key Manufacturing Partner: Strategic tie-up with Dixon Technologies to manufacture private-label refrigerators and washing machines

Technology & Refurbishment Capabilities

• Asset Intelligence Engine: Real-time software synchronizing inventory, refurbishment signals, and local demand forecasting
• Asset Utilization: Over 83% average occupancy rate across 851,184 live items
• Proprietary Platforms & Tools:
• Mojodesk: Full-stack subscriber lifecycle orchestration system
• Specialized underwriting algorithms and automated route-planning systems

• Refurbishment Infrastructure:
• Dedicated workforce of 1,688 contractual and in-house technicians, carpenters, and painters
• Completed over 617,525 asset refurbishments in FY26 to extend asset life cycles

As per financial performance, Rentomojo Limited has posted total income / net profits of Rs 195.80 Cr / Rs 22.41 Cr (FY24), Rs 271.96 Cr / Rs 43.11 Cr (FY25) and Rs 394.09 Cr / Rs 104.30 Cr (FY26). So as per previous financials data, the company has shown substantial top-line and bottom-line growth, with total income and net profits compounding at 41.71% and 115.72% CAGR respectively, though total borrowings also expanded from Rs 147.22 Cr in FY24 to Rs 187.59 Cr in FY26. Company has an average EPS of Rs 7.07 (basic) and Rs 6.85 (diluted) and average RoNW of 35.26% for the last three fiscals. Based on the pre-issue book value, the issue is priced at a Pre-Issue P/BV of 14.10 as per NAV of Rs 28.65 as on 31.03.26. Factoring in the fresh issue proceeds, the Post-Issue P/BV stands at 9.69 on a diluted basis (or 9.43 on a basic post-issue equity base). If we attribute the latest earnings of FY24, FY25, and FY26 to the expanded equity base post-issue, then the asking price is at a Post-Issue P/E of around 192.78, 100.23, and 41.43 respectively on a diluted basis (or 187.68, 97.58, and 40.33 respectively on a basic post-issue basis). As per RHP, a comparison between listed peers shows that there are no listed companies in India or globally whose business model is comparable with that of our Company’s business and comparable to our Company’s scale of operations, giving Rentomojo a powerful scarcity premium as a category creator.

On BRLM's front, Motilal Oswal Investment Advisors Limited, Axis Capital Limited, and IIFL Capital Services Limited (formerly known as IIFL Securities Limited) are associated with this IPO, and Motilal Oswal Investment Advisors Limited has handled 37 IPOs in the last three fiscal years. (as on 04.09.26)

• 1 Mr. Geetansh Bamania