Strong Market Debut
Rentomojo Shares Surge 32% On Strong Market Debut Following Successful IPO
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Key Points
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Jindal Supreme India’s subscription on the final bidding day was driven particularly by non-institutional and retail investors: the NII portion was subscribed 84.21 times and the retail portion 57.72 times, based on NSE data at 10:45 a.m. on September 18.
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Before the issue opened, Jindal Supreme India raised ₹37.46 crore from anchor investors. Craft Emerging Market Fund PCC accounted for ₹27.46 crore through three schemes, while Minerva Emerging Opportunities Fund and Ekamya Pragati Scheme each invested ₹5 crore.
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Jindal Supreme India’s shares were scheduled to list on both the BSE and NSE on September 23, with Sarthi Capital Advisors as book-running lead manager and Bigshare Services as registrar.
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Rentomojo raised ₹376 crore from anchor investors, including Goldman Sachs Funds and BlackRock Global Funds, ahead of its public issue.
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Rentomojo founder Geetansh Bamania’s company operates a full-stack, direct-to-consumer platform offering furniture and home-appliance rentals and subscriptions across India; trading on debut included 47.51 lakh shares on the BSE and 458.89 lakh shares on the NSE.
Rentomojo, a furniture and appliance rental platform, soared 32% on its first trading day, closing at ₹533–₹534 on September 17, 2026, far above its ₹404 IPO price Times of India. The company's ₹1,255.57 crore offering was subscribed 72.88 times, driven by institutional buyers who saw strong fundamentals. Rentomojo reported ₹1,326.75 crore in sales and ₹253.46 crore in net profit for the year ended March 2026 Moneycontrol.
Meanwhile, Jindal Supreme India's ₹124.88 crore IPO attracted massive demand on its final bidding day, with non-institutional investors subscribing 84.21 times and retail investors 57.72 times Moneycontrol. The steel pipes and tubes maker's grey-market premium jumped to 30–33%, signaling strong retail appetite ahead of its September 23 listing Moneycontrol.
Rentomojo's Subscription Blitz Signals Investor Confidence
Rentomojo's IPO drew bids from every investor class, with qualified institutional buyers leading at 177.2 times subscription. Non-institutional investors also piled in at 67.93 times, while retail demand hit 15.5 times. The company raised ₹376 crore from anchor investors including Goldman Sachs Funds and BlackRock Global Funds before the public issue opened Times of India.
The platform operates across 29 Indian cities with 20 warehouses and 82 stores, holding roughly 42–47% market share in organized furniture and appliance rentals. Trading volume surged on debut: 47.51 lakh shares moved on the BSE and 458.89 lakh shares on the NSE Times of India.
Accel's 11-Year Holding Period Yields Massive Return
Venture capital firm Accel India cashed out its stake through the offer-for-sale portion, selling roughly 78.4 lakh shares worth approximately ₹317 crore Business Standard. The exit marked an 11-year investment journey that generated an estimated 8.6x gross return on the sold shares. Accel was the single largest shareholder in the offering, capturing one of India's biggest venture capital wins in the subscription economy space.
Rentomojo to Deploy Fresh Capital Toward Debt and Expansion
Of the ₹150 crore fresh capital raised, Rentomojo will allocate ₹70 crore to debt repayment and ₹42.50 crore to warehouse and store lease costs. The remainder goes to general corporate purposes Times of India. This capital deployment reflects the company's focus on strengthening its balance sheet while expanding its physical footprint across India's rental market.
Jindal Supreme India Attracts Heavy Retail Interest as Listing Nears
Jindal Supreme India's IPO ended bidding on September 18 oversubscribed by more than 50 times, with non-institutional investors showing exceptional demand at 84.21 times and retail buyers at 57.72 times Moneycontrol. The ₹88–₹93 price band drew early support from anchor investors who committed ₹37.46 crore, led by Craft Emerging Market Fund PCC with ₹27.46 crore across three schemes.
The steel manufacturer's grey-market premium widened to 30–33%, suggesting traders expect a significant pop when Jindal Supreme lists on September 23. The company plans to use IPO proceeds worth ₹71 crore for debt reduction Moneycontrol.
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