Gurugram-based Urban Company has secured ₹853.87 crore ($97 million) from marquee anchor investors, setting the stage for its ₹1,900 crore initial public offering (IPO). The strong anchor book signals robust investor appetite for the home services marketplace, one of India’s most anticipated consumer-tech listings this year.
Anchor Allocation and Investors
Urban Company allotted 8.29 crore equity shares at ₹103 each, the upper end of the price band, to a mix of global and domestic institutions. Prominent names include Goldman Sachs, GIC, Norges Bank, Dragoneer Investments, Nomura, Amundi Funds, Steadview Capital, and WhiteOak. On the domestic side, 36.96% of the allocation went to 13 mutual funds across 29 schemes, led by SBI, HDFC, ICICI Prudential, Nippon, and UTI.
IPO Structure
The IPO, opening on September 10 and closing on September 12, comprises a ₹429 crore fresh issue and a ₹1,471 crore offer-for-sale (OFS). The minimum bid lot is 145 shares, with a price band of ₹98–103 per share.
Early Investor Returns
Early backers are positioned for outsized gains. Accel is expected to see a 28.5X return on its 10.51% stake, while Elevation Capital and Bessemer Venture Partners could realize 19.1X and 14.4X returns, respectively.
Financial Performance
For FY25, Urban Company posted ₹1,144 crore in operating revenue, up 38% year-on-year, alongside a profit before tax of ₹28.5 crore. This marks a significant shift toward profitability for the sector.
Outlook
Urban Company’s IPO reflects the maturing of India’s consumer-tech market, where growth and profitability are beginning to align. Strong anchor participation suggests a positive debut, though public market performance will ultimately test long-term investor confidence.
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