Urban Company Seeks Rs 1,900 Crore via Upcoming IPO

Urban Company has filed for a Rs 1,900 crore IPO, with plans to raise Rs 429 crore by issuing new shares. Existing investors, including Accel India, aim to sell stakes worth Rs 1,471 crore. Funds will be allocated to technology development, office leases, and marketing.

Urban Company, an app-based platform offering beauty and home care services, has filed for an initial public offering (IPO) to raise Rs 1,900 crore. According to the draft prospectus submitted to the Securities and Exchange Board of India (SEBI), the company plans to generate Rs 429 crore through new shares.

Existing investors such as Accel India, Elevation Capital, Bessemer India Capital Holdings II Ltd, Internet Fund V Pte. Ltd, and VYC11 Ltd are looking to divest stakes worth Rs 1,471 crore through the offer for sale (OFS) route.

The raised capital will be allocated toward new technology development and cloud infrastructure, marketing, and office lease payments. Currently operational in 59 cities across India and abroad, Urban Company facilitates diverse services ranging from home maintenance to beauty treatments.

(With inputs from agencies.)