RentoMojo IPO in Jeopardy as Ex Cofounder Ajay Nain Alleges Forced, Undervalued Exit Deal

He says his shares were priced far below later deals

Ajay Nain, former COO and cofounder of IPO-bound RentoMojo, has petitioned NCLT Bengaluru claiming he was pushed out through a misleading, undervalued share sale in 2023. He alleges fraud and pressure to sell his 9.41% stake, while later buyouts and funding priced shares much higher—casting doubt on the “financial stress” narrative and potentially stalling the proposed IPO.