New Delhi, July 6 -- Furniture rental startup Rentomojo has received observations from market regulator SEBI for its proposed initial public offering (IPO), paving the way for the company to launch its public issue on Dalal Street.

The issue is largely dominated by an offer for sale (OFS) by existing shareholders, with a smaller primary component aimed at raising fresh capital for expansion. The IPO comprises a fresh issue of equity shares aggregating up to Rs.150 crore and an offer for sale of up to 28,399,567 equity shares with a face value of Rs.1 each.

Motilal Oswal Investment Advisors, Axis Capital, and IIFL Capital Services (formerly IIFL Securities) are the book-running lead managers to the issue.

The company proposes to utilise...