Rentomojo gets SEBI`s nod to raise funds via IPO
Rentomojo has received the Securities and Exchange Board of India’s (SEBI) approval to raise funds through 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.
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. Motilal Oswal Investment Advisors, Axis Capital and IIFL Capital Services are the book-running lead managers to the issue.
Rentomojo operates a technology-driven, full-stack direct-to-consumer (D2C) platform offering rental and subscription services for furniture and home appliances across India.
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