Urban Company's Bold Move Towards Public Listing

In a significant step towards expanding its market presence, Urban Company has officially filed draft papers with the Securities and Exchange Board of India (Sebi) for an Initial Public Offering (IPO) aiming to raise Rs 1,900 crore. This move marks a pivotal moment in the company's growth trajectory.

IPO Structure and Utilization of Proceeds

The IPO is structured into a fresh issue of shares worth Rs 429 crore and an offer for sale (OFS) of shares worth Rs 1,471 crore by existing investors. Notable participants in the OFS include Accel India, Elevation Capital, Bessemer India Capital Holdings II Ltd, Internet Fund V Pte. Ltd, and VYC11 Ltd. The proceeds are earmarked for technological upgrades, cloud infrastructure, lease payments for new office spaces, marketing initiatives, and general corporate purposes.

Urban Company's Global Footprint and Services

Operating a technology-driven online marketplace, Urban Company offers a wide array of home and beauty services across 59 cities in India, the United Arab Emirates, Singapore, and Saudi Arabia. Services range from cleaning and pest control to skincare and massage therapy, all delivered by independent professionals.

Leading the IPO Charge

Kotak Mahindra Capital Company, Morgan Stanley India Company, Goldman Sachs (India) Securities, and JM Financial are spearheading the IPO as the book-running lead managers, underscoring the confidence in Urban Company's market potential.