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yesterday

Urban Company Files Rs 1,900 Crore IPO Draft, Targets Tech and Market Expansion

The home services platform aims to raise Rs 429 crore through fresh shares while early investors sell Rs 1,471 crore in stakes.

Urban Company files draft papers for Rs 1,900 crore IPO, plans tech expansion and scale-up

Overview

  • Urban Company filed its Draft Red Herring Prospectus (DRHP) with SEBI on April 28, 2025, for a Rs 1,900 crore IPO.
  • The IPO includes a Rs 429 crore fresh issue to fund technology, marketing, and operational growth, and a Rs 1,471 crore offer for sale by early investors.
  • Founders Abhiraj Singh Bhal, Varun Khaitan, and Raghav Chandra are retaining their stakes, while investors like Accel, Tiger Global, and Bessemer are partially exiting.
  • The company reported strong financials in FY24, with Rs 828 crore in revenue (up 30%) and a narrowed net loss of Rs 92 crore.
  • Operating in 59 cities across India, the UAE, and Saudi Arabia, Urban Company plans to leverage IPO proceeds to scale its technology and regional footprint.