IPOs are hot right now. The Rentomojo IPO is massive, aiming to raise Rs 1,255.57 crore, and the grey market premium (GMP) is sitting around 35%. That kind of potential profit makes people desperate. And where there is desperation, there is fraud. The Fake Rentomojo IPO Guaranteed Allotment Telegram Scam 2026 is currently stripping lakhs of rupees from Indian retail investors. I've seen the messages myself. They look convincing. But they're entirely fake.
Just the other day, a man from Andhra Pradesh lost Rs 43 lakh to a similar IPO allotment scam. Another investor lost over Rs 3 crore via WhatsApp and Telegram stock market fraud. A third case involved a Rs 45 lakh loss through a fake trading app. The numbers are terrifying (and honestly, they make me a bit sick to my stomach). Scammers know exactly what buttons to push. They understand the FOMO that grips retail investors when they see a heavily oversubscribed issue.
What is the Rentomojo IPO allotment scam?
The scam revolves around the promise of a "guaranteed" share allocation. As you probably know, IPO allotments in India are essentially a lottery system run by the registrar. Nobody can guarantee you shares. Especially not a stranger on Telegram or WhatsApp. In my experience, anything with the word "guaranteed" attached to the stock market is sketchy.
These fraudsters create groups on messaging apps. They use official-looking logos. They might even steal the names of real SEBI-registered brokers. They tell you that for an upfront fee, or by using their "special" trading app, they can bypass the registrar's system and secure your Rentomojo shares before the September 15 allotment date. It's a complete lie. There is no backdoor.
The Rentomojo IPO opened on September 9 and closes on September 11, with a price band of Rs 384 to Rs 404. With the retail portion subscribed over 1.42 times on day one itself, many people know their chances of getting an allotment are slim. Scammers exploit this exact mathematical reality. They present themselves as insiders or portfolio managers. They claim they have connections at Kfin Technologies Ltd, the official registrar for this issue. That's impossible. The allotment process is fully automated and audited.
How the scam actually works
The setup is highly organised. It usually happens in a few clear stages. It rarely involves just a single message. It's a slow buildup designed to get your trust.
First, you get a link to join a Telegram group. Sometimes it comes as a WhatsApp forward. They might even run Facebook ads pointing to the group. If you regularly read latest tech news or finance blogs, you are likely targeted by these ads. Algorithms know you're interested in the stock market. The group is filled with fake members. These are bots or paid actors posting screenshots of massive profits from previous IPOs. They talk about how this specific admin helped them double their money. It creates a powerful illusion of a winning community.
Then, the group admin contacts you privately. They explain that the Rentomojo IPO is heavily oversubscribed. They'll say the retail quota is full. But they claim to have access to the "anchor investor" quota. For context, Rentomojo actually did raise Rs 376 crore from 41 real anchor investors like BlackRock at Rs 404 per share. I think scammers know exactly what they're doing when they mention anchor investors. They mix real facts with their fiction. This makes it much harder to spot the lie (which makes sense, actually).
Next comes the trap. They ask you to download an APK file. This is supposed to be a special institutional trading terminal. Don't install it. Once you install that app, you're basically handing them the keys to your financial life. The app looks like a real trading platform. It might even show live NSE or BSE price feeds. They design the UI to look exactly like popular discount brokers.
Some of these fake apps are incredibly polished.
You transfer money into this app using UPI or a direct bank transfer. You "buy" the Rentomojo lots. A single lot of 37 shares at the upper price band costs Rs 14,948. Many victims buy multiple lots because they think the 35% GMP is guaranteed money. The app shows your allotment is successful. It might even show your fake portfolio growing based on the real-world GMP. It adds Rs 134 per share to your fictional balance.
But when you try to withdraw your funds, the app blocks you. They demand a "withdrawal tax" or a "portfolio management fee". Or they claim your KYC is incomplete and needs a Rs 50,000 deposit to verify. They invent endless reasons why you need to send just a little more money. Once you refuse to pay further, or once you pay their final demand, they delete their Telegram accounts and disappear completely. The app simply stops working. Your money is gone.
The truth about Grey Market Premium (GMP)
Scammers rely heavily on GMP to bait their traps. GMP is the grey market premium. It's an unofficial, unregulated market where shares are traded before they are officially listed on the stock exchanges. Currently, Rentomojo's GMP indicates a potential listing gain of 35%. I'm not sure exactly why people trust these unofficial numbers so much. If you ask me, unofficial markets are a mess.
Thing is, GMP is not a guarantee. It's just an indicator of demand among a small group of unofficial traders. It can crash overnight. Scammers use the 35% figure as a guaranteed return to blind you to the risks. They promise you'll make Rs 134 per share the moment the stock lists on September 17. Don't fall for it. The official stock market doesn't guarantee returns. Anyone who says otherwise is lying to you.
Warning signs you should not ignore
There are specific red flags you can spot immediately. I think people ignore these because they want to believe the lie. Scammers are smart. But they always leave traces because they have to bypass the official banking system.
- The promise of guaranteed allotment. This is impossible under SEBI rules. The registrar handles the lottery algorithmically. No broker has a manual override button.
- You are asked to transfer money to an individual's bank account or a random UPI ID instead of a designated IPO ASBA (Application Supported by Blocked Amount) account. Real IPO applications block the funds in your own bank account.
- The use of APK files sent via chat. Real trading apps are on the Google Play Store or Apple App Store. An APK sent over Telegram is a massive danger sign.
- They rush you. They say the "window closes in 10 minutes" or "only 2 slots left." High-pressure tactics are a classic fraud maneuver.
- They communicate primarily through Telegram or WhatsApp groups where only admins can post, preventing victims from warning others.
How to protect yourself from fake trading apps
You have to be paranoid about your money. Never click on random links sent via SMS or Telegram. If someone adds you to an investment group without your permission, leave and report the group immediately. Change your WhatsApp privacy settings so only your contacts can add you to groups. In my experience, this one simple step will save you from 90% of these scams.
Apply for IPOs only through your official demat account via a trusted broker. Use the standard UPI mandate process or net banking ASBA. The beauty of ASBA is that the money stays blocked in your own bank account until the allotment is finalised. You never send it to a third party. If you don't get the shares, the block is simply removed. Your money never leaves your control.
Critical warning: Never install APK files sent through messaging apps. These files often contain malware that can intercept your bank OTPs and read your SMS messages, giving the scammers full access to your bank accounts.
If you want to stay updated on these kinds of threats, checking out our scam alerts section regularly is a good habit. We recently covered the Fake KFintech IPO Allotment Link SMS Scam 2026, which uses similar tactics. Scammers are constantly using new bait, from IPOs to the Fake ChatGPT Astra 2026 Early Access WhatsApp Scam, to trick you into downloading malware. The bait changes, but the hook remains the same. You might even see scams targeting specific digital initiatives, like the Fake CBI Digital Arrest Scam 2026. The common thread is always fear or greed.
"Fraudsters are increasingly using sophisticated apps that mimic real trading platforms. They manipulate the numbers on the screen to show false profits, encouraging victims to invest more before pulling the plug. Always verify the broker's registration on the official SEBI website."
Where to report IPO fraud in India
Time is your only advantage if you fall for this. You need to act fast. Don't feel embarrassed. These syndicates are highly professional. They trick smart, educated people every single day.
Call the national cybercrime helpline at 1930 immediately. Every minute matters. If you report the transaction quickly, within the first hour or two, your bank might be able to freeze the scammer's account before they withdraw your money. Or before they move it to a crypto exchange. The numbers here are a bit fuzzy on recovery rates, but speed is your best bet.
After calling, file a detailed complaint on the official portal at cybercrime.gov.in. Keep all your evidence. Take screenshots of the Telegram chats. Save the UPI transaction IDs and the bank account details of the scammers. Don't delete the fake app immediately. You might need it to show the police. Just turn off your phone's internet connection if you suspect the app is actively stealing data.
CERT-In (the Indian Computer Emergency Response Team) constantly warns about these fake apps. They're a massive problem right now (annoying, I know). The Delhi Police recently busted a pan-India cyber fraud syndicate with links to Qatar and Dubai. This led to nine arrests. This shows just how large these networks are. They aren't small operations run by kids in a basement. They are corporate-level scams with call centers and app developers. If you ask me, the police are finally starting to take this seriously.
Look, investing in IPOs is a legitimate way to grow your wealth. The Rentomojo IPO might be a great opportunity. The company plans to use the Rs 1,256 crore to repay debt and fund lease payments. The issue comprises a fresh issue of Rs 150 crore and an offer for sale of Rs 1,105.57 crore. That's real business. But you have to play by the rules. Don't let greed override your common sense. If an IPO guarantees you 35% returns overnight and requires you to download a random app, walk away.
