An 11-year bet on rented sofas pays off for Accel as RentoMojo lists

RentoMojo shares jumped nearly 19% on debut as Accel, the platform's earliest institutional backer, sold about ₹317 crore of stock, the single largest stake in the IPO

When Prashanth Prakash agreed in 2015 to back a small Bengaluru startup renting out sofas and refrigerators, most of his venture capital industry peers dismissed the idea. Eleven years later, that conviction has been priced by the market.

RentoMojo, the furniture and appliance rental platform Accel backed at the pre-Series A stage, made a strong debut on the stock exchanges on Thursday, listing nearly 19 per cent above its issue price after the ₹1,255.57-crore offering was subscribed 72.89 times.

Accel, the single largest seller in the offer for sale (OFS), is cashing in on part of an early bet that few investors took seriously at the time.

RentoMojo's IPO ran from September 9 to September 11, 2026, ahead of a September 17 listing on the BSE and NSE. At the listing price, the company's implied market capitalisation was about ₹5,071 crore, valuing it at roughly 48.6 times FY26 earnings on a post-issue basis.

Accel India IV (Mauritius) Ltd was the largest seller in RentoMojo's OFS, offering shares worth about ₹317 crore, roughly a quarter of the OFS. Accel held a 20.92 per cent pre-IPO stake, the largest among shareholders. Its exact post-IPO stake will change slightly depending on the final allotment. But the sale marks a partial, not complete, exit.