FINANCE

Rentomojo IPO opens 9 September at INR 384 to 404 a share

The rental platform's offer comprises INR 150 crore of fresh issue and an offer for sale of 27.4 million shares. Proceeds will partly repay borrowings and fund warehouse lease rentals.

L-R: Hakim Fakhruddin Ujjainwala & Geetansh Bamania - Rentomojo | Photo By Sanjay Borade

Furniture and appliance rental company Rentomojo will open its initial public offering on Wednesday, 9 September, closing Friday, 11 September, with a price band of INR 384 to INR 404 per share on a face value of INR 1. The anchor investor bidding date is Tuesday, 8 September, and the minimum bid lot is 37 shares. The offer comprises a fresh issue of up to INR 150 crore and an offer for sale of up to 27,365,529 shares. The company said fresh issue proceeds will go towards repaying borrowings, paying lease rentals for its warehouses and experience stores, and general corporate purposes.

Three IPOs open on 9 September

Karamtara Engineering, Manipal Payment and Identity Solutions and Rentomojo all open Wednesday and close Friday. The shape of the three offers differs sharply in how much money reaches the companies.

Manipal Payment and Identity Solutions IPO opens 9 September at INR 322 to 339 a share

The card manufacturer, which says it makes over a third of India's credit cards, is raising INR 320 crore in fresh issue alongside an offer for sale by promoter Manipal Technologies.

Moglix's Credlix crosses USD 1 billion in MSME export financing

The Moglix-owned trade finance platform has financed USD 1 billion of exports for over 1,000 MSMEs, and has committed USD 100 million to the India-Mexico corridor this financial year.

Read next