Business · India Bureau
Rentomojo sets IPO price band at Rs 384-404 per share
The furniture and appliance rental platform has fixed its initial public offering price band ahead of subscription opening next week. Anchor investor bidding is scheduled for September 8, followed by the main subscription window.
LSN India ·
Rentomojo has announced its IPO price band at Rs 384 to Rs 404 per share, setting the stage for the company's debut on Indian stock exchanges. The furniture and appliance rental platform will open subscription for retail and institutional investors from September 9 to September 11, allowing market participants to bid for shares within the specified range.
Anchor investor allocation is scheduled for September 8, a day ahead of the main subscription window opening. This tranche is typically reserved for large institutional investors and provides an indication of demand for the offering ahead of the broader subscription period.
The IPO represents a significant milestone for Rentomojo, which has built a business model centered on providing furniture and home appliances on a rental basis across major Indian cities. The company has positioned itself as part of the growing consumable rentals segment in India's e-commerce landscape.
Investors will be able to bid for shares during the three-day subscription window, with final allotment and listing details to follow the completion of the offering. The price band reflects the company's valuation expectations and market conditions at the time of the offering.