Rentomojo sets stage for IPO with public entity conversion

Furniture and appliance rental platform Rentomojo has converted itself into a public limited company ahead of its planned initial public offering (IPO).

The company’s board and shareholders have approved the conversion of “Rentomojo Private Limited” into “Rentomojo Limited” by deleting the word “Private” from its name through a special resolution, according to regulatory filings accessed by Entrackr.

The development comes as the Bengaluru-based company has reportedly begun preparations for its IPO and is eyeing a public listing around FY27.

Founded in 2014, Rentomojo operates at the intersection of consumer tech and lifestyle, offering furniture, appliances, and newer categories such as water purifiers on a rental basis. The company currently serves over 2.2 lakh live subscribers, manages more than 7.7 lakh rental items, and operates across 23 cities through 71 experience stores.

In its FY25 press release, the company said that its net rental revenue grew at a CAGR of 48.24% between FY23 and FY25, while EBITDA increased to Rs 118.41 crore in FY25 from Rs 78.23 crore in FY24, reflecting improved operating leverage.

Rentomojo has raised over Rs 650 crore across multiple funding rounds, including its latest $25 million round led by Edelweiss. Notable investors in the company include Accel, Chiratae Ventures, Bain Capital, along with Edelweiss Discovery Fund and ValueQuest S.C.A.L.E. Fund.The company is also supported by several banks and NBFCs.

The company reported operating revenue of Rs 266 crore in FY25, up 38% from Rs 193 crore in FY24, while its net profit surged 92% to around Rs 43 crore during the same period.