Urban Company gets shareholders' nod for IPO, to raise ₹528 cr

Urban Company has received approval from its shareholders to raise ₹528 crore in fresh capital via an initial public offering (IPO), according to its regulatory filings.

- RAGHAV AGGARWAL

HOME SERVICES COMPANY Urban Company has received approval from its shareholders to raise ₹528 crore in fresh capital via an initial public offering (IPO), according to its regulatory filings.

This is around 80% smaller than the earlier intention of the company to raise around ₹3,000 crore from the markets. "This may be due to new market conditions," an analyst said. The plans of US President Donald Trump to impose reciprocal tariffs on several countries have increased volatility in the global markets.

Apart from IT and manufacturing companies, new-age firms have also seen heavy selling in the past month.