Urban Company IPO: Price Band Set At INR 98-103

Consumer services unicorn Urban Company has set a price band of INR 98 to INR 103 for its upcoming IPO.

At the upper end of the price band, the company would be valued at about INR 14,790 Cr (about $1.6 Bn).

The company’s public issue will open on September 10 and close on September 12. The bidding for anchor investors will take place on September 9.

Urban Company filed its RHP yesterday after it received SEBI nod for its IPO. The issue will comprise a fresh issue of up to INR 472 Cr and an offer-for-sale (OFS) element of up to INR 1,428 Cr.

Accel, Elevation Capital and Tiger Global are among the existing investors who will offload their shares in the public offering. Accel has cut its share sale by INR 43 Cr to INR 390 Cr, while Elevation Capital and Tiger Global are offloading shares worth INR 346 Cr and INR 303 Cr, respectively.

(The story will be updated soon)

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