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In nan financial twelvemonth ended March 2024, nan Delhi-NCR-based patient reported gross of Rs 828 crore, marking a 30% emergence from Rs 636.5 crore successful FY23.
Urban Company Ltd., a starring location services provider, took a awesome measurement toward its marketplace debut by filing draught papers for an first nationalist offering worthy up to Rs 1,900 crore connected April 28. The connection will blend a caller stock rumor pinch a liking waste by existing investors, mounting nan shape for 1 of nan year’s astir anticipated listings.
According to DRHP revenge pinch SEBI, nan exertion platform, backed by investors specified arsenic Elevation, Accel and Prosus, plans to raise up to Rs 429 crore done a superior stock issuance. This is notably little than nan Rs 528-crore caller rumor antecedently approved by shareholders.
Urban Company whitethorn besides research a pre-IPO placement of up to Rs 86 crore, which would proportionately trim nan size of nan caller issue.
Currently operating crossed 59 cities successful India, nan UAE and Saudi Arabia. Urban Company is besides supported by Bessemer Venture Partners. It joins a increasing roster of Indian startups eyeing nan nationalist markets, including Physics Wallah, PhonePe and Flipkart.
The proceeds from nan offering are slated for processing caller exertion and unreality infrastructure. Additionally, a information will spell towards trading initiatives and agency overheads.
In nan financial twelvemonth ended March 2024, nan Delhi-NCR-based patient reported gross of Rs 828 crore, marking a 30% emergence from Rs 636.5 crore successful FY23. Over nan aforesaid period, it narrowed its nett nonaccomplishment to Rs 92 crore, a important betterment from Rs 312.4 crore a twelvemonth earlier. Urban Company has not yet disclosed its financials for FY25.
Kotak Mahindra Capital, Morgan Stanley India, Goldman Sachs, and JM Financial are acting arsenic nan lead bookrunning managers for nan IPO.
Founded astir a decade agone by Abhiraj Bhal, Raghav Chandra, and Varun Khaitan, Urban Company past secured superior backing successful 2021 from investors including Tiger Global Management, Dragoneer, Steadview, and Prosus. The institution was weighted astatine $2.6 cardinal astatine nan time.
Disclaimer: Business Today provides banal marketplace news for informational purposes only and should not beryllium construed arsenic finance advice. Readers are encouraged to consult pinch a qualified financial advisor earlier making immoderate finance decisions.
Published on: Apr 28, 2025 10:22 PM IST
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