Urban Company files for Rs 1,900 crore IPO with Sebi

New Delhi: Urban Company has filed draft letters with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) to raise Rs 1,900 crore. According to its draft Red Herring Prospects (DRHP), the IPO will include a new issue of shares worth Rs 429 crore and a proposal for the sale (offs) of shares worth Rs 1,471 crore by current investors.
Prominent participants include Excel India, Elevation Capital, Besmer India Capital Holdings II Limited, Internet Fund V PTE. Ltd., and VyC11 Limited.
The company plans to use technical upgradation and cloud infrastructure (Rs 190 crore), lease payment for new office locations (Rs 70 crore), marketing initiative (Rs 80 crore), and funds for general corporate purposes.
Kotak Mahindra Capital Company, Morgan Stanley India Company, Goldman Sachs (India) Securities, and JM are working as a book-hanging lead manager for Financial IPOs.
Urban Company operates a technology-operated online marketplace offering home and beauty services. As of 31 December, 2024, it was presence in 59 cities of India, United Arab Emirates, Singapore and Saudi Arabia, including 48 places in India.
The platform enables consumers to book a wide range of services such as cleaning, pest control, electrical and plumbing functions, carpentry, equipment servicing and repair, painting, skincare, hair grooming and massage therapy, with services distributed by independent professionals.