Athira Sethu
Kochi, 31 March 2026
Three companies, namely Rentomojo, Pioneer Fil-Med, and Intellius Recode, plan to raise funds from the public through the stock market. The companies have filed documents with the Securities and Exchange Board of India (SEBI) to start initial public offerings (IPOs). The companies’ shares will be available for trading on the National Stock Exchange (NSE) and the BSE.
Rentomojo IPO
Rentomojo is an online platform that offers consumers the opportunity to rent furniture and home appliances. The company plans to raise funds through a fresh issue of equity shares aggregating to ₹150 crore and an offer for sale (OFS) of 2.83 crore equity shares. The company will raise funds through the sale of fresh equity shares, and existing investors like Accel India, Edelweiss Discovery Fund, Chiratae Growth Fund, and others will offer their shares in the OFS.
The funds raised through fresh equity shares will be used to settle debt, lease rentals for warehouses and stores, and other business purposes. The company, Rentomojo, is the largest online rental company for furniture and appliances in India. It offers a full-service, tech-enabled platform to consumers.
Pioneer Fil-Med IPO
Pioneer Fil-Med is a company that manufactures parts for railways and metro systems, such as coaches and locomotives. The company will raise ₹250 crore through a fresh issue of shares and ₹250 crore through an OFS of shares by its promoters, Pioneer Facor IT Infradevelopers and Aztech India.
The money raised through fresh shares will be utilized to set up a gearbox manufacturing unit, a wind generation components unit, and other business needs. The company also has an option to raise up to ₹50 crore through a share sale prior to the IPO, thus reducing the amount raised through fresh shares.
Intellius Recode IPO
Intellius Recode is a company that provides technology solutions to businesses, such as AI-based solutions. The company will raise ₹117 crore through a fresh issue of shares and 12.9 lakh shares through an OFS of shares by its promoter, ReCode Solutions Inc.
The money raised through fresh shares will be utilized to develop digital workers, undertake subcontracted development work, and meet other business expenses. Intellius Recode provides technology solutions to large businesses to enhance their operations through advanced technology solutions and AI-based solutions.
