Urban Company files draft papers for Rs 1,900-crore IPO

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Tiger Global-backed Urban Company filed for an initial public offering of Rs 1,900 crore ($223 million), its draft papers released on Monday showed. Urban Company, which provides mobile app-based beauty and home care services, will raise up to Rs 429 crore by selling new shares, while existing investors plan to offload stock worth Rs 1,471 crore.

The online services aggregator plans to use over half of the funds raised from new shares for developing tech offerings, and the rest largely for office leases and marketing.

Urban Company operates in 59…



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Urban Company files draft papers for Rs 1,900-crore IPO


Tiger Global-backed Urban Company filed for an initial public offering of Rs 1,900 crore ($223 million), its draft papers released on Monday showed. Urban Company, which provides mobile app-based beauty and home care services, will raise up to Rs 429 crore by selling new shares, while existing investors plan to offload stock worth Rs 1,471 crore.

The online services aggregator plans to use over half of the funds raised from new shares for developing tech offerings, and the rest largely for office leases and marketing.

Urban Company operates in 59…



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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