Home services marketplace Urban Company has set aside shares valued at Rs 853.87 crore ($97 million) for its anchor investors as it prepares for a Rs 1,900 crore initial public offering (IPO). This offering consists of a fresh issuance of shares amounting to Rs 429 crore along with an offer-for-sale (OFS) of Rs 1,471 crore from current shareholders. The board at Urban Company has approved a resolution to provide 8,29,00,485 equity shares at an issue price of Rs 103 (upper band) to its anchor investors, as indicated in its regulatory filing obtained from stock exchanges. Prominent global investors including Goldman Sachs, Dragoneer Investments, Norges Bank, GIC, Nomura, Amundi Funds, Steadview Capital, and WhiteOak are listed as key anchor investors in the Gurugram-based enterprise.
Out of the total allocation, 36.96% was distributed to 13 domestic mutual funds through 29 different schemes, which include SBI, HDFC, ICICI Prudential, Nippon, and UTI, among others. The IPO is scheduled to open for subscriptions on September 10 and will close on September 12, offering a price band of Rs 98–103 per share with a minimum bidding quantity of 145 equity shares. In Urban Company’s Rs 1,900 crore IPO, early investors stand to benefit significantly. Accel, with a 10.51% ownership, is projected to yield the highest return at a multiple of 28.5X, followed by Elevation, holding a 10.84% stake, at 19.1X, and Bessemer Venture Partners at 14.4X.
For the financial year ending March 2025, the home service company anticipates a 38% increase in its operating revenue, reaching Rs 1,144 crore, alongside recording a profit before tax (PBT) of Rs 28.5 crore during the same timeframe.
