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Rentomojo IPO Listing Tomorrow as GMP Signals Potential 27% Pop
Rentomojo is expected to begin trading on the stock market on Thursday, 17 September.
Its shares will first be shown in a special pre-open session at 10:00 IST.
The company sold shares in an IPO at prices between ₹384 and ₹404.
The grey market price suggests the shares could start near ₹511.
That would be about 26% higher than the highest IPO price.
Many investors wanted the shares, so the IPO was subscribed 72.88 times.
Some experts think the company’s growth and rental model could support a strong debut.
Other experts say investors should watch its debt, asset use and customer payments.
The grey market estimates differed, so the actual listing price may be different.
Rentomojo shares are scheduled to list on the BSE and NSE on Thursday, 17 September, at 10:00 IST.
The IPO’s reported GMP of ₹107 implies an estimated listing price of ₹511, or a 26.49% premium to ₹404.
The issue was subscribed 72.88 times overall, led by 177.29-times QIB subscription.
Analysts cited strong growth and recurring revenue, but warned about capital intensity, defaults and asset utilisation.
The ₹1,256 crore IPO included a ₹150 crore fresh issue and an Offer for Sale of 2.73 crore shares.
- Who
- Rentomojo Limited, its existing shareholders, IPO investors and market analysts.
- What
- Rentomojo is scheduled to list its IPO shares, with grey-market indicators suggesting a possible premium over the ₹404 upper issue price.
- Where
- The shares are scheduled to list on the BSE and NSE.
- When
- Thursday, 17 September, at 10:00 IST; the allotment was finalised on Tuesday, 15 September.
- Why
- The company is raising capital through a fresh issue and selling shares held by existing shareholders to support debt repayment, lease-related payments and general corporate purposes.
Bullish View
Cautious View
Expected listing performance
Bullish View
The reported ₹107 GMP indicates a possible 26.49% listing premium, while Shiva Grover cited a GMP of ₹155–160 and a potential 38–40% gain.
Cautious View
Mahesh M. Ojha estimated a more moderate 20–22% listing gain and suggested short-term investors consider booking partial profits.
Business prospects
Bullish View
Analysts highlighted Rentomojo’s market position, recurring rental revenue, subscriber growth, improving profitability and first-mover position as a listed pure-play rental company.
Cautious View
The business is capital-intensive and exposed to subscriber defaults, asset utilisation, execution challenges and the sustainability of its acquisition, rental, recovery and redeployment cycle.
Valuation and investment approach
Bullish View
The company’s growth, market leadership and improving profitability were cited as factors supporting its premium valuation and longer-term potential.
Cautious View
At ₹404, the company was valued at 39.4 times FY26 P/E, leading to a premium valuation and a need for investors to monitor post-listing performance.
Key facts
- IPO price band
- ₹384–404 per share
- Upper-end valuation
- ₹1,256 crore
- Reported current GMP
- ₹107
- Indicative listing price
- ₹511 per share, based on the ₹404 upper price and ₹107 GMP
- Overall subscription
- 72.88 times
- QIB subscription
- 177.29 times
- Issue structure
- Fresh issue of up to ₹150 crore plus an Offer for Sale of 2.73 crore shares
Sources
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