Urban Company is preparing to file its draft red herring prospectus (DRHP) for a ₹2,000 crore IPO in the coming days, per ET.
The deets: the offering will include a ₹500 crore primary issue and a ₹1,500 crore secondary sale.
Kotak Mahindra Capital, Morgan Stanley, Goldman Sachs, and JM Financial have been appointed as bankers to the issue.
By the numbers: over the past year, Urban Company closed multiple secondary transactions at a $1.8 billion valuation. In FY24, it narrowed its net loss to ₹93 crore from ₹312 crore a year earlier, while operating revenue grew nearly 30% YoY to ₹827 crore.
Zoom out: Urban Company is moving beyond home services into the D2C space, launching its own water purifiers, smart locks, and even a service for booking house help within 15 minutes.
