FURNITURE AND APPLIANCE rental platform Rentomojo plans to file its draft red herring prospectus (DRHP) with Sebi by mid-2025, founder Geetansh Bamania said. The company is evaluating the size and timeline of the proposed IPO, a process expected to take several months.Rentomojo reported a sharp turnaround in FY24, with profits rising to ₹22.1 crore from ₹6.2 crore in FY23 and revenue jumping 59% to ₹195.8 crore. Bamania credited the success to operational efficiency and technology adoption, with 70-75% of customer queries now receiving automated approvals compared to 30% earlier.The company expects 40% revenue growth in FY25 and aims to double profits. "We anticipate closing FY25 with an Ebitda of ₹100 crore and profits of ₹40 crore," Bamania said.Rentomojo's revenue is evenly split between furniture and appliance rentals, with an 85% inventory occupancy rate and gross margins exceeding 60%. Operating 20 warehouses nationwide, the company partners with third-party logistics for deliveries and offers free relocation services.The platform's subscription model addresses a gap in affordability, Bamania explained. “Furnishing a 1BHK costs around ₹2 lakh, which is five to six times the average monthly salary of ₹30,000-40,000. With frequent job changes, a subscription model offers flexibility and affordability over credit or EMI options."

Rentomojo set to file DRHP by mid-2025

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is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 88 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.

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which gives digital readers unlimited access to 9,000+ magazines and newspapers for a monthly subscription price. Magzter also has the largest number of stories in the world with its game-changing ezRead 2.0 feature for its apps, which enables smartphone and small-screen mobile users to enjoy magazine content the way it was meant to be enjoyed, with article text that is easy to read and is accompanied by stunning videos and high resolution photography.

{{magzter}} is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 88 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.