Rentomojo
Rentomojo files draft papers with Sebi for IPO; plans Rs 150-cr fresh issue
Rentomojo Ltd, an online rental and subscription platform for home furniture and appliances, has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The proposed IPO comprises a fresh issue of equity shares aggregating up to Rs 150 crore and an offer-for-sale (OFS) of up to 2,83,99,567 equity shares by existing shareholders, according to the Draft Red Herring Prospectus (DRHP) filed on Friday. The company proposes to utilise the proceeds from the fresh issue towards payment of debt, lease rentals or licence fees for its warehouses and experience stores, and for general corporate purposes. Founded by Geetansh Bamania, the company operates a technology-driven, full-stack direct-to-consumer (D2C) platform offering rental and subscription services for furniture and home appliances across India. Rentomojo is the largest player in the organised online rental segment for furniture and appliances, with an estimated market sh
 "Rentomojo files draft papers with Sebi for IPO; plans Rs 150-cr fresh issue")
Indian startups need to deliver good profits in 3-5 yrs: Accel's Prakash
The top venture capitalist also predicted that at least 25 Indian unicorns will go for IPO in the next 3-5 years
 "Indian startups need to deliver good profits in 3-5 yrs: Accel's Prakash")
Can't afford an iPhone or Galaxy S9? Don't fret, you can get one on rent
Bengaluru-based RentoMojo to offer top smartphones brands starting at a monthly rental of Rs 2,100
 "Can't afford an iPhone or Galaxy S9? Don't fret, you can get one on rent")
RentoMojo receives $5 million funding from Accel, IDG Ventures
Founder Geetansh Bamania said they are growing at a pace of 30% month-over-month
 "RentoMojo receives $5 million funding from Accel, IDG Ventures")