Another legit place to rent bikes in Delhi would be Green Ride that offers cycles by Delhi Cycles Private Limited. You can avail of their services by downloading the GreenRide app (iOS and Android) and completing the registration process. You can then recharge in multiples of INR 50, scan the QR code on the bicycle at any of their stands, and enjoy your ride. Return it in any of their stations once the ride is complete.
They currently only open at Vishwavidyalaya Metro Station Gate No. 3 (7 AM - 11 AM) and at Rohini East Metro Station Gate No 3 (6 AM - 10 AM) with a weekly off on Tuesday. Fare starts at INR 10 for 60 minutes.