Urban Company to launch Rs 1,900 crore IPO, listing on Sep 17

Urban Company, the app-based platform for home and beauty services, will launch a Rs 1,900 crore initial public offering on September 10, the company said, with the subscription window open through September 12 and anchor investor bidding set for September 9. The Gurugram-based firm has fixed a price band of Rs 98 to Rs 103 a share, a lot size of 145 shares and expects to list on both the BSE and NSE on September 17, with allotment scheduled for September 15.

The offer comprises a fresh issue of Rs 472 crore and an offer for sale of Rs 1,428 crore by existing investors, including Accel India, Bessemer, Elevation Capital, Internet Fund V and VYC11. At the top of the price band, the company’s market valuation would be about Rs 14,790 crore. The company has reserved 75 percent of the issue for qualified institutional buyers, 15 percent for non-institutional investors and 10 percent for retail investors. Kotak Mahindra Capital, Morgan Stanley India, Goldman Sachs India Securities and JM Financial are the bookrunning lead managers, and MUFG Intime India is the registrar.

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