Urban Company Gears Up for Rs 1,900 Crore IPO Debut

Urban Company, the popular mobile app-based beauty and home services platform, announced a price band of Rs 98 to Rs 103 per share for its Rs 1,900 crore Initial Public Offering (IPO), set to take place from September 10 to 12.

With a valuation reaching Rs 14,790 crore at the price band's upper limit, the Gurugram-based company aims to raise Rs 472 crore through new share sales, while existing investors plan to offload stakes worth Rs 1,428 crore. The IPO has reserved 75% of its size for qualified institutional buyers and will be managed by leading financial firms such as Kotak Mahindra Capital Company and Goldman Sachs (India) Securities.

The raised funds are earmarked for new technology development and cloud infrastructure, essential office leases, marketing, and general corporate purposes. Urban Company operates a sophisticated tech-driven marketplace for services like cleaning, plumbing, and beauty treatments across India, the UAE, Singapore, and Saudi Arabia.

(With inputs from agencies.)