Urban Company IPO Day 1 Live: Urban Company’s initial public offering, a platform for beauty and home services via an app, will be available for subscription from September 10 to September 12. Urban Company IPO price band has been established between ₹98 and ₹103 per share.
The company, based in Gurugram, aims to generate ₹472 crore by issuing new shares, while existing investors intend to divest stakes estimated at ₹1,428 crore.
Those participating in the offer for sale (OFS) include Accel India, Elevation Capital, Bessemer India Capital Holdings II Ltd, Internet Fund V Pte Ltd, and VYC11 Ltd.
Funds from the fresh share issuance will be directed towards new technology development, cloud infrastructure, office lease payments, marketing initiatives, and general corporate needs.
Urban Company functions as a technology-oriented, comprehensive online marketplace providing quality-focused services and solutions across various home and beauty sectors. In addition to its operations in India, it has expanded its reach to the United Arab Emirates, Singapore, and the Kingdom of Saudi Arabia.
(Stay tuned for more updates)
