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

NEW DELHI: Urban Company has filed draft papers with the Securities and Exchange Board of India (Sebi) for an preliminary public providing (IPO) to boost Rs 1,900 crore. According to its Draft Red Herring Prospectus (DRHP), the IPO will comprise a contemporary problem of shares value Rs 429 crore and a proposal for sale (OFS) of shares value Rs 1,471 crore by present traders.
Key OFS contributors embrace Accel India, Elevation Capital, Bessemer India Capital Holdings II Ltd, Internet Fund V Pte. Ltd, and VYC11 Ltd.
The firm plans to utilise the proceeds to fund technological upgrades and cloud infrastructure (Rs 190 crore), lease funds for new workplace areas (Rs 70 crore), advertising initiatives (Rs 80 crore), and for common company functions.
Kotak Mahindra Capital Company, Morgan Stanley India Company, Goldman Sachs (India) Securities, and JM Financial are performing because the book-running lead managers for the IPO.
Urban Company operates a technology-driven on-line market providing residence and sweetness companies. As of December 31, 2024, it had a presence in 59 cities throughout India, the United Arab Emirates, Singapore, and Saudi Arabia, together with 48 places inside India.
The platform permits shoppers to e-book a variety of companies reminiscent of cleansing, pest management, electrical and plumbing work, carpentry, equipment servicing and restore, portray, skincare, hair grooming, and therapeutic massage remedy, with companies delivered by impartial professionals.