<p>The Tiger Global-backed Urban Company filed for an initial public offering of 19 billion Indian rupees ($223 million), its draft papers released on Monday showed.</p><p>Urban Company, which provides mobile app-based beauty and home care services, will raise up to 4.29 billion rupees by selling new shares, while existing investors plan to offload stock worth 14.71 billion rupees.</p><p>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.</p>.Urban Company introduces unlimited mental health leave policy for employees.<p>Urban Company operates in 59 cities across India, UAE and Saudi Arabia.</p><p>The firm, also backed by Bessemer Venture Partners, joins a list of startups that are looking to or have already filed to go public, such as Physics Wallah, PhonePe and Flipkart.</p><p>Gurugram-based Urban Company turned profitable in the previous financial year, reporting a pre-tax profit of 271.4 million rupees in the nine months to December 2024 compared with a loss of 577.7 million rupees a year earlier.</p><p>A tax credit helped the company report an overall profit of 2.43 billion rupees for the period.</p><p>Domestic private equities Accel India and Elevation Capital, Urban Company's earliest backers and top shareholders with a stake of 10.5% and 10.8%, respectively, will collectively sell shares worth 7.79 billion rupees.</p><p>Kotak Mahindra Capital, Morgan Stanley, Goldman Sachs and JM Financials are the lead bankers for Urban Company's primary share issuance.</p>
<p>The Tiger Global-backed Urban Company filed for an initial public offering of 19 billion Indian rupees ($223 million), its draft papers released on Monday showed.</p><p>Urban Company, which provides mobile app-based beauty and home care services, will raise up to 4.29 billion rupees by selling new shares, while existing investors plan to offload stock worth 14.71 billion rupees.</p><p>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.</p>.Urban Company introduces unlimited mental health leave policy for employees.<p>Urban Company operates in 59 cities across India, UAE and Saudi Arabia.</p><p>The firm, also backed by Bessemer Venture Partners, joins a list of startups that are looking to or have already filed to go public, such as Physics Wallah, PhonePe and Flipkart.</p><p>Gurugram-based Urban Company turned profitable in the previous financial year, reporting a pre-tax profit of 271.4 million rupees in the nine months to December 2024 compared with a loss of 577.7 million rupees a year earlier.</p><p>A tax credit helped the company report an overall profit of 2.43 billion rupees for the period.</p><p>Domestic private equities Accel India and Elevation Capital, Urban Company's earliest backers and top shareholders with a stake of 10.5% and 10.8%, respectively, will collectively sell shares worth 7.79 billion rupees.</p><p>Kotak Mahindra Capital, Morgan Stanley, Goldman Sachs and JM Financials are the lead bankers for Urban Company's primary share issuance.</p>