Urban Company is an app based cosmetic and home care service company.
The IPO is preparing to enter another new player in the market. In such a situation, investors can get another chance of earning. The mobile app -based cosmetic and home care service offer on Monday filed initial documents with the capital market regulator SEBI to raise Rs 1,900 crore through the initial public issue (IPO). According to PTI news, according to Draft Red Herring Prospects (DRHP), the company has proposed to raise Rs 429 crore by selling new shares and current investors are planning to sell a stake of Rs 1,471 crore.
They will sell shares
According to the news, the Offer for Sale (OFS) route include the shares selling Excel India and Eligibility Capital, Besmer India Capital Holdings II Limited, Internet Fund V Private Limited and VYC 11 Limited. The company has proposed to use Rs 190 crore for new technology development and cloud infrastructure, Rs 70 crore for lease payments for its offices, Rs 80 crore for marketing activities and the remaining amount for general corporate purposes.
What does the company do
Urban Company operates a technology-operated, full-stack online marketplace for quality-driven services and solutions in different domestic and beauty categories. As of December 31, 2024, it exists in 59 cities in India, United Arab Emirates, Singapore and Saudi Arabia, out of which 48 cities are in India. Its platform enables consumers to order services including cleaning, pest control, electrician, plumbing, carpenter, equipment servicing and repair, painting, skincare, hair grooming and massage therapy.
These services are provided by independent service professionals at the convenience of consumers. Kotak Mahindra Capital Company, Morgan Stanley India Company, Goldman Sachs (India) Securities and JM Financial are the book-hanging lead managers of this issue.
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