Furniture and appliance rental platform Rentomojo has raised nearly $40 million from anchor investors ahead of its IPO. Separately, Theater has reportedly raised nearly $6 million in a Series A funding round.
Rentomojo secures $40m ahead of IPO
Furniture and appliance rental platform Rentomojo has raised nearly $40 million (Rs 376.07 crore) from anchor investors ahead of its IPO, which opens for subscription on September 9 and closes on September 11.
The Bengaluru-based company allotted 93.08 lakh shares at Rs 404 apiece, the upper end of its IPO price band. At this price, Rentomojo is valued at around Rs 4,200 crore.
The anchor book saw participation from mutual funds, insurance companies and pension funds including Kotak ELSS Tax Saver Fund, ICICI Prudential Quality Fund, Goldman Sachs India Equity Portfolio and BlackRock Global Funds.
According to the company’s red herring prospectus (RHP), Rentomojo plans to raise Rs 1,255.6 crore through the IPO. The issue comprises a fresh issue of Rs 150 crore and an offer for sale (OFS) of 2.73 crore shares worth Rs 1,105.6 crore.
Niveshaay leads funding in Theater
Digital-first fashion and lifestyle brand Theater has raised nearly $6 million (Rs 56.25 crore) in a Series A funding round led by Niveshaay, Entrackr reported.
The funding also saw participation from FirstPort Capital, Skagen Ventures and other investors.
Theater’s board approved the issue of 2,145 Series A CCPS at Rs 2,62,224 per share. Niveshaay invested Rs 37 crore, while FirstPort Capital and Skagen Ventures put in Rs 12.81 crore and Rs 3.36 crore, respectively. Saket Agarwal, Vishal Julka and IPV International also participated in the round, said the report citing the company’s latest regulatory filings.
The company plans to use the capital for business expansion, working capital, balance-sheet strengthening and other growth initiatives.
Founded by Sarthak Aggarwal, Karan Jain, Vikram Jain and Shruti Agarwal, Theater had previously raised $1.5 million in a pre-Series A round in September 2024, led by Prath Ventures.
