Urban Company, the home and beauty services provider platform backed by marquee investors like Accel India, Elevation Capital, Bessemer India, VY Capital, and Tiger Global, has decided to open its Rs 1,900-crore initial public offering for subscription next week on September 10.
The anchor book of the offer will be launched on September 9, while the public issue will remain open for all investors till September 12.
The company will finalise the IPO share allotment by September 15, while its shares will be available for trading on the BSE and NSE on September 17.
The erstwhile UrbanClap Technologies India will issue new shares worth Rs 472 crore through IPO, while investors Accel India IV (Mauritius), Bessemer India Capital Holdings II, Elevation Capital V, Internet Fund V, and VY Capital will be selling Rs 1,428 crore worth shares via offer-for-sale component.
The company has reserved shares worth Rs 2.5 crore for its employees.
Founders and promoters Abhiraj Singh Bhal, Raghav Chandra, and Varun Khaitan hold 6.65 percent stake each in Urban Company, and the remainder shares 80.05 percent shares are owned by several investors.
VY Capital is the largest public shareholder in the company with 11.8 percent stake, followed by Elevation Capital V (the former SAIF Partners India - 10.81 percent), Accel India (10.48 percent), Steadview Capital Mauritius (6.78 percent), and Naspers Ventures (6.78 percent).
Gurugram Urban Company, which does not have comparable peer in the listed space, intends to deploy fresh issue proceeds for new technology development and cloud infrastructure, lease payments for its offices, marketing activities, and general corporate purposes.
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Capital markets regulator SEBI has cleared the Urban Company IPO document on August 29. The company had filed draft papers with the regulator on April 28 this year.
Incorporated in 2014, Urban Company with operations in 51 cities across India, United Arab Emirates, and Singapore (excluding cities served by its joint venture in Kingdom of Saudi Arabia), provides various services including cleaning, pest control, electrician, plumbing, carpentry, appliance servicing and repair, painting, skincare, hair grooming and massage therapy. Further, in last two years, it expanded into home solutions with the launch of water purifiers and electronic door locks under the brand name Native.
On the financial front, the company reported a profit of Rs 6.9 crore for the quarter ended June 2025, down 45 percent compared to Rs 12.6 crore in the same period last year. The decline was partly due to a Rs 8.6-crore loss in its joint venture, weak operating numbers, and higher total expenses.
Revenue increased sharply by 30.8 percent, rising to Rs 367.3 crore from Rs 280.9 crore in the same period. At the operating level, EBITDA loss (earnings before interest, tax, depreciation and amortisation) stood at Rs 4.8 crore, widening from loss of Rs 3.36 crore.
Furthermore, the company has turned a corner in fiscal 2025, reporting a profit of Rs 28.6 crore (partly supported by other income), compared to a loss of Rs 92.7 crore in the previous fiscal year. Revenue during the same period soared 38.2 percent to Rs 1,144.5 crore, up from Rs 828 crore, however, EBITDA loss narrowed to Rs 31.5 crore, compared to Rs 146.7 crore.
The merchant bankers managing the Urban Company IPO are Kotak Mahindra Capital Company, Morgan Stanley India Company, Goldman Sachs (India) Securities, and JM Financial.
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