Rentomojo plans to raise some debt as it looks to support its operation-heavy business, while targeting an occupancy rate of 80-83%, according to Geetansh Bamania, Chairperson, Managing Director & Chief Executive Officer of Rentomojo Ltd.
Speaking to NDTV Profit, Bamania said the company does not want to operate at either a very high or very low occupancy rate, with 80-83% being the level it aims to maintain.
“There is an occupancy risk in the company's business,” Bamania said, adding that the company is focused on finding the right balance rather than maximising occupancy.
Bamania said Rentomojo is currently an operation-heavy company and has around 11 touchpoints available for consumers. The company will need to go outside and raise some debt, he said.
Refurbishing remains a key part of the company's business model. “Refurbishing is the soul of our business,” Bamania said.
Around 56-60% of Rentomojo's operations are currently generating revenue, according to Bamania. He also said the company's current attrition rate is around 22-23%.
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Rentomojo Listing & IPO Details
The company made its stock market debut earlier this month. Rentomojo shares made a strong debut in the Indian stock market on Sept. 17, 2026 after its initial public offering (IPO) received stellar demand.
Rentomojo shares were listed at Rs 482.45 apiece on NSE, a premium of 19.42% to the issue price of Rs 404 per share. On BSE, Rentomojo shares were listed with 18.81% premium at Rs 480 per share.
The listing was largely in line with the Street estimates as indicted by the grey market premium (GMP). Ahead of the debut, Rentomojo IPO GMP today signalled a listing premium of over 20%.
The public issue was open for subscription from September 9 to September 11, while the IPO allotment date was September 15. Rentomojo IPO listing date is September 17, and the shares have been listed on both the stock exchanges, BSE and NSE.
Rentomojo IPO price band was set at Rs 384 to Rs 404 per share. The company raised Rs 1,255.57 crore from the book-building issue, which was a combination of fresh issue of 37.15 lakh equity shares worth Rs 150 crore and offer-for-sale (OFS) of 2.74 crore shares of Rs 1,105.57 crore.
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