Urban Company Raises INR 853.87 Cr from Anchor Investors Ahead of IPO The issue includes a fresh share sale of INR 429 crore and an offer for sale of INR 1,471 crore by existing shareholders.
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Home services marketplace Urban Company has raised INR 853.87 crore from anchor investors before the launch of its INR 1,900 crore initial public offering.
The issue includes a fresh share sale of INR 429 crore and an offer for sale of INR 1,471 crore by existing shareholders.
According to regulatory filings, the company has allocated 8.29 crore equity shares at INR 103 per share, which is the upper limit of the price band, to anchor investors.
Global investment firms such as Goldman Sachs, Dragoneer Investments, Norges Bank, GIC, Nomura, Amundi Funds, Steadview Capital and WhiteOak participated in the anchor round.
Domestic institutions also showed strong interest. Around 36.96 percent of the total anchor allocation went to 13 Indian mutual funds across 29 schemes. These included leading fund houses like SBI, HDFC, ICICI Prudential, Nippon and UTI.
The IPO will open for subscription on September 10 and close on September 12 with a price band of INR 98 to INR 103 per share. The minimum bid lot is set at 145 shares.
Urban Company's early investors are expected to see sizable returns.
Accel, which holds a 10.51 percent stake, could gain about 28.5 times its investment. Elevation, with a 10.84 percent stake, is estimated to make a 19.1 times return, while Bessemer Venture Partners may achieve a 14.4 times return.
For the financial year ending March 2025, the Gurugram based firm reported a 38 percent rise in operating revenue to INR 1,144 crore and a profit before tax of INR 28.5 crore.
Urban Company competes with players such as Housejoy, QuikrEasy and Amazon Home Services in the home services sector.
