Urban Company, the mobile app-based beauty and home services platform, has set the price band for its upcoming ₹1,900 crore IPO at ₹98 to ₹103 per share.
The IPO will be open for subscription from September 10 to 12.
Bidding for anchor investors will take place on September 9.
The share allocation will be as follows:
75% reserved for Qualified Institutional Buyers (QIBs)
15% for Non-Institutional Investors (NIIs)
10% for Retail Investors
Structure of the IPO
Total issue size: ₹1,900 crore
Fresh issue: ₹472 crore
Offer for Sale (OFS): ₹1,428 crore (by existing investors Excel India, Elevation Capital, Bessemer India Capital Holdings Ltd, Internet Fund V Pte. Ltd, and VYC11 Ltd.)
Minimum bid: 145 shares in one lot
Book-running lead managers: Kotak Mahindra Capital, Morgan Stanley India, Goldman Sachs India, and JM Financial
Expected listing date: September 17
About Urban Company’s Business
Urban Company is a technology-driven marketplace offering a wide range of home and beauty services.
Services include: cleaning, pest control, electrician, plumbing, carpentry, appliance repair, painting, skincare, hair grooming, and massage therapy.
The company operates not just in India, but also in the UAE, Singapore, and Saudi Arabia.
Use of Funds
The funds from the fresh issue will be used for:
Developing new technology and cloud infrastructure
Paying office lease expenses
Marketing activities
General corporate purposes
