Gurugram-based at-home services marketplace Urban Company has closed its blockbuster IPO with record investor demand, subscribed 103.6 times.
Subscription Frenzy
The three-day book build issue (Sept 10–13) drew bids for 1,106.46 crore shares against just 10.68 crore available. Demand was led by QIBs (140.2x), followed by HNIs (74x) and retail (39.2x). Even the employee quota was oversubscribed 36.7x.
The IPO comprised a fresh issue of ₹472 crore (4.58 crore shares) and an OFS of ₹1,428 crore (13.86 crore shares) from existing backers including Accel, Elevation, Tiger Global, Vy Capital, and Bessemer.
Pre-IPO Moves
Ahead of the issue, Urban Company raised ₹854 crore from anchor investors such as GIC, Fidelity, and Norges Bank. A ₹500 crore secondary sale also brought in SBI Mutual Fund and Permira as new shareholders.
Valuation & Allotment
Priced at ₹98–103 per share, the IPO values the firm at ₹14,790 crore ($1.7B). Minimum retail applications required an investment of ₹14,935, while HNIs needed upwards of ₹2.09 lakh. Share allotment is due September 15, with listing set for September 17 on NSE and BSE.
Growth & Profitability
Founded in 2014, Urban Company operates in beauty & wellness services (salons, spa, laser) and home maintenance (plumbing, cleaning, pest control, electrical). In FY25, it reported ₹1,144 crore in revenue (+38% YoY) and turned profitable with a ₹240 crore net profit, reversing a ₹93 crore loss in FY24.
Final Take
Urban Company’s oversubscribed IPO signals renewed investor appetite for consumer tech services and underscores the market’s confidence in profitable, high-growth digital platforms.
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