RentoMojo IPO: Accel Clocks 8.6X Return, Cofounder Geetansh Bamania Pockets ₹34 Cr

Furniture and appliance rental startup RentoMojo’s IPO has delivered sizeable returns for its early backers through its offer-for-sale (OFS) component, ahead of the startup’s stock market debut tomorrow. Cofounder Geetansh Bamania pocketed ₹34.31 Cr by selling 8.49 Lakh shares at the issue price of ₹404 apiece. Before the bidding process began, Bamania told Inc42 that he had initially planned to sell nearly 20 Lakh shares through the OFS but later reduced the size of the sale.