Urban Company's IPO: Non-institutional investors lead the charge
Urban Company's IPO is getting a lot of love—by the second day, bids came in for nine times the shares on offer.
Non-institutional investors led the charge with 18x subscription, while retail investors weren't far behind at nearly 18x.
The ₹1,900 crore issue is priced at ₹98-103 per share and closes September 12; allotment is expected by September 15 and listing on September 17.
What does Urban Company do?
Urban Company connects people to home, beauty, and wellness services—think cleaning, repairs, skincare and more—all through one app.
They've served over 14 million users so far with a network of 54,000+ professionals across India.
The company also has its own product line (Native) and InstaHelp for quick household fixes.
International operations and use of funds
Urban Company isn't just local—they operate in the UAE, Singapore, and either Saudi Arabia or Australia (sources differ on the third market).
These markets made up nearly 13% of their revenue last year.
With an upper price band valuation of ₹14,790 crore post-IPO, funds raised will go into tech upgrades, cloud infrastructure, marketing and more.
Major investors like Accel India are selling part of their stake; big banks like Kotak Mahindra Capital and Goldman Sachs are managing the issue.