Liquidity Events
Home services platform Urban Company’s Rs.1,900-Cr IPO gets 104 times subscription
The initial public offering of Gurugram-headquartered, app-based beauty and home services platform Urban Company Ltd received 103.63 times subscription. The INR 1,900 crore IPO received bids for 11,06,46,08,960 shares against 10,67,73,244 shares on offer.The category for Qualified Institutional Buyers (QIBs) got subscribed 140.20 times. The portion for non-institutional investors fetched 74.04 times subscription, while the Retail Individual Investors (RIIs) part received 39.25 times subscription. The company's Initial Public Offering (IPO) has a price band of INR 98-103 per share. At the upper end of the price band, the company's valuation is pegged at INR 14,790 crore.The company will raise INR 472 crore through selling new shares, and existing investors plan to sell stakes worth INR 1,428 crore. Those selling shares under the offer for sale (OFS) route are Accel India, Elevation Capital, Bessemer (via Bessemer India Capital Holdings II Ltd), Tiger Global (via Fund V Pte Ltd) and Vy Capital (via VYC11 Ltd). The company would use the primary proceeds for new technology development and cloud infrastructure, lease payments for its offices and marketing activities.Kotak Mahindra Capital, Morgan Stanley India, Goldman Sachs (India) Securities and JM Financial are the book-running lead managers to the issue.
Between Mar 2015 and Sep 2025, Urban Company had attracted about USD 577 M from Accel India, Elevation Capital, Think Investments, Prosus Ventures, Vy Capital, Dragoneer Investment Group, Steadview Capital, Tiger Global, Wellington Management, Bessemer and others.For FY24, Urban Company had reported about INR 827 Cr in Operating Income and about INR 93 Cr in Net loss.
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