Rentomojo Limited has successfully garnered ₹1,255.567 crore through its initial public offering (IPO) that comprises both a fresh issue and a sale offering of up to 28,399,567 equity shares. The IPO marks a milestone as Rentomojo is the first of its kind in India to venture into the public market as an online furniture and appliance subscription platform.
Legal Advisory for Rentomojo and Promoter Selling Shareholder
The legal advisory for Rentomojo and its Promoter Selling Shareholder, Geetansh Bamania, was led by Cyril Amarchand Mangaldas. The firm’s team was spearheaded by Vishal Yaduvanshi, Partner and Regional Co-Head of Capital Markets – North, along with Partner Gayathri Ramachandran. Senior Associate Surya Rajkumar and Associates Anna Kallivayalil, Zubin Ronnie, Maria Palamattom, and Aarya Maheshwari provided additional support.
Further, Bharath Reddy, Partner, along with Associate Aarav Prasad, advised on the Employee Stock Ownership Plan (ESOP) schemes. Lomesh Kiran Nidumuri, Partner and Head of Disputes, South India, alongside Associates Tanisha Kumar and Harshali Sulebhavikar, handled disputes filed during the transaction process.
Advisory for Selling Shareholders
Trilegal extended its expertise to the selling shareholders, which included Accel India IV (Mauritius) Limited, Edelweiss Discovery Fund – Series I, and several other prominent investors. This team was led by Partners Vijay Parthasarathi and Vinay Sirohia, with assistance from Senior Associate Harshvardhan Lahiri and Associates Kohsheen Saraf, Esha Alex, Jahnavi Jayasimha Rao, and Vansh Dhoka.
Advisory for Book-Running Lead Managers
The book-running lead managers, comprising Motilal Oswal Investment Advisors Limited, Axis Capital Limited, and IIFL Capital Services Limited, received counsel from TT&A. The TT&A team was led by Partner Abhinav Kumar, Managing Associate Shubham Sancheti, Senior Associate Abhishek Iyer, and Associates Daniyal Khan and Harsh Shekhar.
More Read
International Legal Counsel
Hogan Lovells Cadwalader acted as the international legal counsel for the book-running lead managers. The firm’s team was led by Biswajit Chatterjee, Head of the India Practice and Managing Partner of the Dubai Office, with support from Counsel Varun Jetly, Senior Associate Suchisubhra Sarkar, and Senior Associate Aditya Dsouza.
Rentomojo stands as India’s largest online rental and subscription platform for home furniture and appliances. By filing for an IPO, Rentomojo has set a precedent in the online furniture and appliance subscription sector. The successful execution of this IPO is attributed to the collaborative efforts of the distinguished legal teams involved.
