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Urban Company IPO Opens September 10: Gurugram-based home and beauty services provider Urban Company Limited is slated to kick off its Rs 1,900-crore initial public offering on September 10, with the subscription period running through September 12.
Through IPO, the company plans to raise Rs 472 crore via a fresh issue of shares, while existing shareholders intend to divest stakes worth Rs 1,428 crore through an offer-for-sale (OFS).
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Urban Company IPO structure, funds utilisation
Funds raised from the fresh issue will be used for technology development and cloud infrastructure, office lease payments, marketing activities, and general corporate purposes. Bidding for anchor investors will open on September 9, a day before the public subscription begins.
Urban IPO price band, lot size, allocation & more
The company has fixed the price band at Rs 98 to Rs 103 per equity share. Investors can bid for a minimum lot of 145 shares, with additional bids allowed in multiples of 145 shares.
Issue allocation
- Qualified Institutional Buyers (QIBs): 75 per cent
- Non-Institutional Investors (NIIs): 15 per cent
- Retail Investors: 10 per cent
Investors can apply for one lot of 145 shares and thereafter in multiples of 145 shares.
MUFG Intime India Private Limited (formerly Link Intime India Private Limited) will serve as the registrar for the IPO. The face value and tick size of each share is Rs 1.
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Urban Company allotment and listing schedule
The allotment is expected by September 15, with shares proposed to be listed on NSE and BSE on September 17. The IPO’s book-running lead managers are Kotak Mahindra Capital Company, Morgan Stanley India Company, Goldman Sachs (India) Securities, and JM Financial. ICICI Bank Limited and Axis Bank Limited are acting as sponsor banks.
What does Urban Company do?
Urban Company is a tech-driven marketplace that provides consumers a platform to connect with independent service professionals across home and beauty categories. The firm’s platform provides services such as cleaning, pest control, plumbing, electrical work, carpentry, appliance repair, painting, skincare, hair grooming, and massage therapy, operating across India, UAE, Singapore, and Saudi Arabia.
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