Urban Company Starts Shutting Its Saudi Subsidiary Over Profitability Concerns

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SUMMARY

As per its DRHP, Urban Company has begun transferring its Saudi operations to a joint venture, with the intent of winding down its step-down subsidiary, Urban Company Arabia

Urban Company Arabia saw its loss before tax widen by 182% to INR 23.4 Cr in 9M FY25 from INR 8.3 Cr in the year-ago period

Last month, Urban Company filed its DRHP with SEBI for INR 1,900 Cr IPO

IPO-bound consumer services unicorn Urban Company has begun winding down its step-down subsidiary in Saudi Arabia as it failed to achieve or maintain…



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Urban Company Starts Shutting Its Saudi Subsidiary Over Profitability Concerns


SUMMARY

As per its DRHP, Urban Company has begun transferring its Saudi operations to a joint venture, with the intent of winding down its step-down subsidiary, Urban Company Arabia

Urban Company Arabia saw its loss before tax widen by 182% to INR 23.4 Cr in 9M FY25 from INR 8.3 Cr in the year-ago period

Last month, Urban Company filed its DRHP with SEBI for INR 1,900 Cr IPO

IPO-bound consumer services unicorn Urban Company has begun winding down its step-down subsidiary in Saudi Arabia as it failed to achieve or maintain…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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