Urban Company Files INR 1,900 Cr IPO The issue will open on September 10 and close on September 12, with shares to be listed on both the BSE and NSE.
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Urban Company Ltd has filed for an initial public offering (IPO) worth INR 1,900 crore.
The issue comprises a fresh share sale of INR 472 crore and an offer for sale of INR 1,428 crore by existing investors including Accel, Bessemer Venture Partners, Elevation Capital, Tiger Global, and Vy Capital.
The issue will open on September 10 and close on September 12, with shares to be listed on both the BSE and NSE.
Founded in 2014 as 'UrbanClap' by Abhiraj Singh Bhal, Raghav Chandra, and Varun Khaitan, the Gurugram-based company reported its first annual profit in FY25. After years of losses, Urban Company posted a net profit of INR 135 crore in FY25, compared to a loss of INR 178.8 crore in FY24 and INR 496.7 crore in FY23.
Revenue grew sharply from INR 656.6 crore in FY23 to INR 1,373.5 crore in FY25. The company also turned positive on operating cash flows, reporting INR 212.6 crore in FY25, while net worth stood at INR 855.9 crore with borrowings below INR 60 crore.
The draft prospectus notes pending tax disputes over GST classification and labor-related cases involving service professionals seeking employee recognition. Any regulatory shift on gig workers may increase the company's liabilities.
Funds from the fresh issue are planned for technology investments, marketing, working capital, and corporate needs.
Urban Company's offering comes as SEBI cleared as many as 13 IPOs, boosting the market pipeline for the second half of the year.
Alongside Tiger Global-backed Urban Company, approvals include Imagine Marketing, the parent of Boat.
Imagine Marketing, which had earlier deferred its issue, revived plans through SEBI's confidential pre-filing route and received approval on August 1.
Other cleared companies are Allchem Lifescience, Pace Digitek, Jain Resource Recycling, Om Freight Forwarders, Corona Remedies, Priority Jewels, Mouri Tech, Ravi Infrabuild Projects, KSH International, Omnitech Engineering, and Juniper Green Energy.
