In this 15-minute maid booking service, one could receive home services like cleaning, utensils, sweeping, mopping, and simple cooking. The work is done by gig workers who are paid by the hour.
Funds deployment and pre-IPO information
The Elevation-, Accel- and Prosus-backed technology platform will be looking to raise ₹528 crore from a primary issuance of shares. There might be a pre-IPO placement, if this is successfully done, the fresh issue size would be reduced.
From the sources, the company has not decided where to use fresh issue funds, however, there is a possibility that funds deployment would be declared in the offer documents.
Lead Manager Selection
Kotak Mahindra Capital, Goldman Sachs, and Morgan Stanley are assigned as lead managers for the management of their issuance.
As per the sources, the urban company is expected to file DRHP with the SEBI in a short time, and it is a crucial step towards IPO.
Financially, the Delhi-based company showed 30% more revenue in FY 2024, as it was ₹827 crore. Moreover, their losses also got smaller in comparison to the year before, as they got down to ₹93 crore from ₹312 crore.
A venture capital firm named Dharana bought shares of Urban Company, valued at ₹400 crore. This firm bought these shares from employees and shareholders, making the largest ESOP payout in the company’s history at the time.
