Accel-backed Rentomojo has set a price band of ₹384-404 per share for its $133 million IPO, which opens on September 9 and values the company at about ₹4,200 crore at the top end.
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Accel-backed online furniture rental platform Rentomojo has set a price band of ₹384 to ₹404 ($4.06-$4.28) per share for its $133 million IPO that launches next week, a public filing showed early on Friday. At the top end of the range, Rentomojo is targeting a valuation of about ₹4,200 crore ($444.52 million).
The three-day share sale opens September 9, while anchor investors will get to bid a day earlier.
The company is selling new shares worth up to ₹150 crore, while existing investors, including Accel, and its founder are selling a total 27.4 million shares.
Headquartered in Bengaluru, Rentomojo operates a subscription-based platform that rents furniture, appliances and other household products.
Rentomojo’s profit jumped 142% to ₹104 crore for the year ended March 31, on a 45.5% climb in revenue to ₹387 crore.
It plans to use IPO proceeds to repay debt, pay rental and license fees for its warehouses and experience stores.
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