New Delhi, July 7 -- Furniture and home appliance rental platform Rentomojo has received the Securities and Exchange Board of India's go-ahead for its proposed initial public offering, moving the Bengaluru-based company closer to a public-market listing. The IPO comes at a time when several consumer internet and technology-led companies are trying to enter the market with a stronger focus on profitability and operating discipline.

The proposed IPO comprises a fresh issue of shares worth up to Rs 150 crore and an offer for sale (OFS) of up to 28.4 million equity shares by existing shareholders. Since the OFS involves a sale by current shareholders, Rentomojo will not receive proceeds from that portion of the issue.

Several existing share...