Rentomojo’s IPO Day 3: GMP Soars to 33% as Subscription Hits 4.71 Times—Is It Time to Invest?

The Rentomojo IPO has entered its third day of bidding, receiving a robust response from investors, evidenced by an overall subscription of 4.71 times the 2.17 crore shares on offer. The retail segment also showed strong demand, with subscriptions reaching 4.19 times. The IPO, valued at Rs 1,255.57 crore, has a price band set between Rs 384 and Rs 404 per equity share. Rentomojo aims to utilize the proceeds for debt repayment, lease rentals, and general corporate purposes. The IPO opened on September 9, 2026, and will close on September 11, 2026, with share allotment expected by September 15 and a tentative listing date of September 17, 2026.

The grey market sentiment for the Rentomojo IPO is notably optimistic, reflecting a Grey Market Premium (GMP) of approximately 33%, translating to around Rs 135 above the upper issue price of Rs 404. This indicates positive market expectations for Rentomojo’s stock post-listing, with estimates suggesting a listing price around Rs 539 per share. Such sentiments from the grey market typically offer insights into perceived demand and potential performance on listing day, although they also carry inherent risks tied to market fluctuations and investor sentiment.

For Indian investors, the Rentomojo IPO presents an interesting opportunity amid a backdrop of strong subscription numbers and a healthy GMP. Retail investors should bear in mind the company’s market position and growth trajectory, as well as the capital-intensive nature of the business, which carries associated risks. However, with a “Subscribe” rating from SBI Securities, the IPO is being viewed positively, highlighting its potential for long-term gains against the backdrop of increasing demand for flexible consumption models in the consumer market.

Source: The Economic Times

(Expert Note: This report was prepared by the Wealthova IPO team.)