Urban Co appoints Kotak, two others for ₹3,000-cr IPO

Home services platform Urban Company plans to file draft papers for a 3,000 crore initial public offering (IPO) before the end of the March quarter, three people aware of the development said.

- Sneha Shah & Ranjani Raghavan

Home services platform Urban Company plans to file draft papers for a ₹3,000 crore initial public offering (IPO) before the end of the March quarter, three people aware of the development said. The Prosus-backed company has already appointed Kotak Mahindra Capital, Goldman Sachs and Morgan Stanley to manage the IPO, the people said.

The company, last valued at $2.1 billion in June 2021, will issue new and existing shares in the IPO, the people cited above said on the condition of anonymity.

"The banks have been appointed and the draft documents are likely to be filed by the end of the current quarter," one of the persons cited above said. "The company will largely raise primary capital," he added.