New Delhi-based home services marketplace Urban Company has received the green light from the Securities and Exchange Board of India (SEBI) to launch its much-anticipated ₹1,900 crore Initial Public Offering (IPO). This marks a major milestone for one of India’s leading consumer tech startups, which has redefined on-demand home services in recent years.
IPO Structure and Details
According to regulatory filings, Urban Company’s IPO will comprise a fresh issue of shares worth ₹1,200 crore and an offer-for-sale (OFS) of ₹700 crore by existing investors. The proceeds from the fresh issue are expected to be deployed towards geographic expansion, technology investments, customer acquisition, and working capital needs.
The OFS portion will allow some of Urban Company’s key backers—including venture capital firms—to partially exit, while still holding a significant stake in the company post-listing.
Strong Investor Backing
Urban Company, valued at over $2.5 billion in its last funding round, is backed by marquee investors such as Prosus, Tiger Global, Elevation Capital, and Vy Capital. The company has raised more than $400 million to date, making it one of India’s most well-funded consumer internet platforms.
Business Growth and Market Position
Founded in 2014 by Abhiraj Bhal, Raghav Chandra, and Varun Khaitan, Urban Company operates across 50+ cities in India and has expanded internationally to markets such as the UAE, Singapore, and Australia. The platform offers a wide range of services, including home cleaning, beauty and wellness, appliance repair, plumbing, and painting.
With over 50,000 service professionals onboard and millions of monthly bookings, the startup has emerged as India’s largest organised player in the home services category.
Why This IPO Matters
The Urban Company IPO is seen as a litmus test for Indian internet startups eyeing the public markets. Analysts highlight that profitability, customer retention, and scalability of its subscription-driven business model will be under investor scrutiny.
If successful, the ₹1,900 crore listing could pave the way for more consumer service and lifestyle startups to pursue IPOs in India, further strengthening the country’s startup-to-public market pipeline.
Summary Table:
| Metric | Details |
|---|---|
| IPO Size | ₹1,900 crore |
| Fresh Issue | ₹1,200 crore |
| Offer for Sale (OFS) | ₹700 crore |
| Valuation (Last Round) | $2.5 billion+ |
| Founded | 2014 by Abhiraj Bhal, Raghav Chandra & Varun Khaitan |
| Investors | Prosus, Tiger Global, Elevation Capital, Vy Capital |
| Funds Raised to Date | $400 million+ |
| Service Professionals | 50,000+ |
| Markets | 50+ Indian cities, UAE, Singapore, Australia |
