Furniture rental startup Furlenco plans Rs.1,200-Cr IPO

Bengaluru-based furniture rental player Furlenco is planning an initial public offering (IPO) to raise between INR.1,000 Cr and INR 1,200 Cr. The company is currently working with merchant bankers on the proposed issue and is expected to finalise ICICI Securities as an advisor. The IPO, expected to be launched in the next fiscal year, may include a primary capital raise as well as an offer-for-sale by existing backers.Founded in 2012, the firm provides subscription-based furniture rental services. The company plans to use the proceeds to support its operations and growth as it eyes a valuation of approximately INR 7,000 Cr.