Urban Company files draft papers for ₹1,900 crore IPO – CNBC TV18

Urban Company, which provides cell app-based mostly magnificence and residential care providers, on Monday filed preliminary papers with the capital markets regulator Sebi to boost ₹ 1,900 crore via an preliminary public providing (IPO).

The corporate proposed to boost ₹429 crore via promoting new shares and present buyers plan to promote stakes price ₹1,471 crore, in keeping with the Draft Pink Herring Prospectus (DRHP).

These promoting shares beneath the provide for sale (OFS) route are — Accel India and Elevation Capital, Bessemer India Capital Holdings II Ltd, Web Fund V Pte. Ltd and VYC11 Ltd.

Additionally Learn: Ather Vitality IPO opens for subscription: Examine brokerage evaluations, newest GMP and extra

The corporate proposes to make use of ₹190 crore for new expertise growth and cloud infrastructure, ₹70 crore for lease funds for its places of work, ₹80 crore in direction of advertising and marketing actions, and the stability in direction of common company functions.

Urban Company operates a expertise-pushed, full-stack on-line market for high quality-pushed providers and options throughout numerous house and sweetness classes. It’s current in 59 cities throughout India, the United Arab Emirates, Singapore, and the Kingdom of Saudi Arabia, of which 48 cities are in India, as of December 31, 2024.

Its platform permits customers to order providers, together with cleansing, pest management, electrician, plumbing, carpentry, equipment servicing and restore, portray, skincare, hair grooming and therapeutic massage remedy. These providers are delivered by impartial service professionals on the customers’ comfort.

Additionally Learn: Canara Robeco Asset Administration Company files DRHP with SEBI for IPO

Kotak Mahindra Capital Company, Morgan Stanley India Company, Goldman Sachs (India) Securities and JM Monetary are the e-book-operating lead managers to the problem.