Rentomojo Limited has submitted its statement on the deviation or variation in the utilization of funds raised from its Initial Public Offer (IPO). For the quarter ended September 30, 2026, the company reported that the ₹1,500 million IPO proceeds have been allocated and utilized across various objectives, including debt repayment and general corporate purposes, with no significant deviations noted from the original prospectus disclosures.
Rentomojo Reports IPO Fund Utilization for Q3 2026
Rentomojo Limited has officially disclosed the utilization of funds raised through its recent Initial Public Offer (IPO). The statement covers the quarter ended September 30, 2026, detailing how the gross proceeds of ₹1,500 million (approximately ₹1,500.00 crore) have been deployed.
Key Fund Allocations and Utilization
The company confirmed that as of September 30, 2026, a total of ₹929.80 million had been utilized. The primary allocations and their utilization include:
- Repayment/prepayment of borrowings: The original allocation was ₹700.00 million, and the full amount was utilized during the quarter.
- Payment of lease rental/license fee for premises: An allocation of ₹425.00 million was made, with ₹80.98 million utilized during the quarter. The remaining balance stands at ₹344.02 million.
- General Corporate Purposes: With an allocation of ₹288.72 million, ₹119.02 million was utilized, leaving ₹169.70 million unutilized. Note 2 specifies that this utilization comprises operating costs and repair/maintenance, approved by the Board of Directors on November 10, 2026.
- Issue expenses: Out of an allocation of ₹86.28 million, ₹29.80 million was utilized, with ₹56.48 million remaining. Note 1 clarifies that ₹18.02 million of these expenses were incurred from internal accruals prior to IPO proceeds receipt and subsequently reimbursed.
Net Proceeds and Unutilized Funds
The total net proceeds allocated were ₹1,413.72 million, out of which ₹900.00 million was utilized, leaving a balance of ₹513.72 million. In total, the unutilized proceeds as of September 30, 2026, amounted to ₹570.20 million.
These unutilized funds have been temporarily deployed in fixed deposits with RBL Bank Limited (₹120.00 million) and Axis Bank Limited (₹300.00 million), along with balances in the Public Issue Account (₹56.48 million) and Monitoring Account (₹93.72 million).
Confirmation of No Deviation
Rentomojo Limited confirmed that there is no deviation or variation in the utilization of the IPO proceeds from the objects stated in the Prospectus dated September 11, 2026. The company’s Audit Committee reviewed these statements on November 10, 2026, and the Monitoring Agency Report was issued by Crisil Ratings Limited.
Source: BSE
