Rentomojo Shares Jump Over 19% in Debut Trade

New Delhi: Shares of online furniture and appliance rental platform Rentomojo Ltd surged over 19 per cent against the issue price of Rs 404 on their first day of trading on Thursday.

The stock listed at Rs 480, registering a jump of 18.81 per cent from the issue price on the BSE.

At the NSE, it started trading at Rs 482.45, up 19.41 per cent.

The company’s market valuation was Rs 5,345.78 crore.

The Rs 1,256-crore initial public offer (IPO) of Rentomojo Ltd was subscribed 72.88 times on the final day of share sale on Friday last week.

The online furniture and appliance rental platform had fixed a price band of Rs 384-404 per equity share for its IPO.

The issue had a fresh issue of shares worth up to Rs 150 crore and an Offer for Sale (OFS) of 2.73 crore shares valued at Rs 1,106 crore at the upper end of the price band.

Rentomojo Ltd had raised Rs 376 crore from anchor investors, including Goldman Sachs Funds and BlackRock Global Funds.

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.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)