Rentomojo’s ₹1,256‑crore IPO has attracted a staggering 72.88‑fold subscription, eclipsing the 2.18‑crore shares offered. The bid volume of 158.68 crore equity shares shows a demand that outstrips the 50‑plus crore expectation in market chatter.
Qualified institutional buyers contributed 177.29×, non‑institutional investors 67.93×, and retail participants 15.59×, underscoring a broad base of interest. According to the BSE filing, the distribution of orders reflects a healthy mix of institutional and retail appetite, with QIBs pulling the bulk of the demand.
In the grey market, the stock trades at ₹86 above the issue price, implying a 21% premium. Market watchers note that such premiums are speculative and do not guarantee the listing price, but they hint at the price range that could materialise at debut.
The issue was priced between ₹384–₹404, with the upper band signalling an estimated market cap of ₹4,206 crore. At the ₹404 ceiling, the share price would be priced at the top of the band, a level that investors are keen to test against on Thursday.
Looking ahead, Rentomojo’s senior management has not yet issued a formal guidance post‑listing, but the company’s revenue growth of 41.7% CAGR and a PAT of ₹104.3 crore in FY26 position it favourably for early‑stage trading. Analysts are monitoring the first‑day volatility and potential support levels around ₹400–₹410, as the market digests the subscription momentum and the grey‑market premium. The listing date, set for September 17, will be the next pivotal event in the company’s equity journey.