PE-VC Fund Investments
Prosus, Elevation acquire addl stake in home services player Urban Company via Pre-IPO deal; Tiger G
Gurugram-based home care services provider Urban Company 's early backers, Tiger Global and Accel India, have offloaded shares worth about INR 498 crore through secondary transactions ahead of its initial public offering (IPO). SBI Mutual Fund, Permira, as well as existing investors Prosus Ventures and Elevation Capital bought out the shares at INR 103 per share - the upper end of the IPO price band.Tiger Global sold shares worth INR 250 crore to SBI Mutual Fund, INR 87.6 crore to Permira, and INR 73.6 crore Elevation Capital. Prosus acquired shares worth INR 87.1 crore from Accel.In total, the pre-IPO and post-DRHP block deals add up to about INR 498 crore. Urban Company’s INR 1,900 crore IPO opens on September 10, comprising a fresh issue of INR 472 crore and an offer for sale of INR 1,428 crore.
Tiger Global first invested in Urban Company as part of the Series E in August 2019 and had invested until Series F in April 2021. Accel India first invested in Urban Company as part of the Series A in March 2015 and had invested until Series C in June 2017. Current investors in the company include Think Investments, Prosus Ventures, Vy Capital, Dragoneer Investment Group, Prosus Ventures, Steadview Capital, Wellington Management and Trifecta Capital.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
