Bengaluru – Urban Company, India’s leading tech-enabled platform for home and beauty services, has filed its Draft Red Herring Prospectus (DRHP) with SEBI to raise up to ₹1,900 crore through an Initial Public Offering (IPO).
The offer includes a fresh issue of equity shares worth ₹429 crore and an offer for sale (OFS) of ₹1,471 crore by existing shareholders.
Founded by Abhiraj Singh Bhal, Raghav Chandra, and Varun Khaitan, Urban Company operates in 59 cities across India, UAE, Singapore, and Saudi Arabia. It offers on-demand services such as cleaning, repairs, grooming, skincare, and home solutions like water purifiers and smart locks under its brand ‘Native’.
As of December 2024, Urban Company was India’s top full-stack home and beauty services platform by Net Transaction Value (NTV), according to Redseer.
Key investors include Accel, Elevation Capital, Bessemer, Naspers, Wellington, and Think Investments, among others.
The shares will be listed on the BSE and NSE. Kotak Mahindra Capital, Morgan Stanley, Goldman Sachs, and JM Financial are the Book Running Lead Managers to the issue.
