Rentomojo IPO to unlock huge gains for investor

Nifty23, 720.10-59.06. Gold (MCX) (Rs/10g.)152, 818.000.0.

Key points

• The furniture and appliance rental startup is looking to raise Rs 1, 255.57 crore through its maiden public offering.
• The firm has fixed a rate band of Rs 384-404 per share, according to its red herring prospectus (RHP).
• Rentomojo IPO may unlock 152x gain for Nazara Tech founder Nitish Mittersain.
• At the upper end of the IPO cost band of Rs 404 per share, the shares being sold would be worth approximately Rs 6 crore.
• The Economic Times daily newspaper is available online now.

Nifty23, 720.10-59.06. Gold (MCX) (Rs/10g.)152, 818.000.0. The Economic Times daily newspaper is available online now.

Rentomojo IPO may unlock 152x gain for Nazara Tech founder Nitish Mittersain. ETMarkets.comLast Updated: Sep 08, 2026, 09: 10: 00 AM IST.

Rentomojo, the furniture and appliance rental firm, is gearing up for a significant IPO, poised to raise over one thousand crore rupees. Nitish Mittersain stands to gain immensely, potentially realizing a staggering 152-fold return on his investment through the sale of some shares. The firm intends to utilize the proceeds from the fresh matter for debt clearance and boosting operational capacities.

Rentomojo's initial public offering (IPO). It opens for subscription on Tuesday, September 9, 2026, could support Nazara Technologies founder Nitish Mittersain realise a gain of around 152 times his disclosed acquisition cost on the portion of his shares being sold in the problem. The furniture and appliance rental startup is looking to raise Rs 1, 255.57 crore through its maiden public offering. The IPO comprises a fresh matter of 37.15 lakh shares aggregating to Rs 150 crore and an offer for sale (OFS) of up to 2.74 crore shares worth Rs 1, 105.57 crore.

For context, the firm has fixed a rate band of Rs 384-404 per share, according to its red herring prospectus (RHP). Mittersain, one of the individual shareholders participating in the OFS, holds 226, 920 shares in Rentomojo, according to the offer documents. His disclosed weighted average acquisition cost is Rs 2.65 per share, with the acquisition-cost figures adjusted for the company's subsequent share split. Of his total holding, Mittersain is selling 148, 460 shares through the IPO. Live Events.

At the upper end of the IPO cost band of Rs 404 per share, the shares being sold would be worth approximately Rs 6 crore. Based on the disclosed weighted average acquisition cost of Rs 2.65 per share, the proportionate acquisition cost of these 148, 460 shares works out to around Rs 3.93 lakh. This values the shares being sold at approximately 152.45 times their disclosed weighted average acquisition cost. The implied gain on the portion of shares being sold is approximately Rs 5.96 crore at the upper end of the IPO cost band, before taxes, transaction costs and other expenses. For context, the Rs 3.93 lakh figure represents the proportionate acquisition cost calculated using the weighted average acquisition cost disclosed in the RHP. It should not be construed as Mittersain's original investment amount in Rentomojo. Mittersain is not selling his entire stake in the IPO. After the sale of 148, 460 shares, he will retain 78, 460 shares. At Rs 404 per share, his remaining holding would be worth approximately Rs 3.17 crore, assuming the stock trades at the IPO's upper cost band after listing. That remarked, the actual return realised from the shares sold in the IPO may be higher or lower from these estimates depending on Rentomojo's market rate after listing. The company's shares are tentatively scheduled to commence trading on the exchanges on September 17.

In short, rentomojo IPO to unlock huge gains for investor is the central thread here, and readers can expect follow-up reporting as the picture becomes clearer.