In a filing with the exchanges, the startup said that it allotted 93.1 Lakh equity shares to 41 anchor investors at ₹404 apiece, the upper end of its IPO price band
While sixteen domestic mutual funds lapped up 60.4 Lakh shares worth nearly ₹244.1 Cr, five life insurance companies picked up 12.6 Lakh shares for a sum of ₹51 Lakh
RentoMojo’s public issue comprises a fresh issue of shares worth up to ₹150 Cr and an offer for sale (OFS) of up to 2.7 Cr shares
Ahead of the commencement of the bidding for its public issue on September 9, furniture and appliance rental platform RentMojo has raised nearly ₹376.1 Cr from anchor investors.
In a filing with the exchanges, the startup said that it allotted 93.1 Lakh equity shares to 41 anchor investors at ₹404 apiece, the upper end of its IPO price band.
Sixteen domestic mutual funds lapped up 60.4 Lakh shares worth nearly ₹244.1 Cr via a total of 30 schemes, accounting for 32.68% of the total anchor allocation. In addition, five life insurance companies picked up 12.6 Lakh shares for a sum of ₹51 Lakh.
The anchor round saw participation from Kotak Mahindra Trustee, Edelweiss, Invesco, HDFC, Motlal Oswal, Bajaj Finserv, JM Financials, ICICI Prudential, among others.
RentoMojo’s public issue comprises a fresh issue of shares worth up to ₹150 Cr and an offer for sale (OFS) of up to 2.7 Cr shares. It has also set a price band of ₹384-₹404 apiece for its upcoming IPO which will value the startup at nearly ₹4,206 Cr (about $445.1 Mn) at the upper end of the spectrum.
RentoMojo’s IPO will now open for subscription on September 9 (Wednesday) and close on September 11 (Friday).
This story will be updated soon.