Investigation underway as SAM and CAM take action on Urban Company's 1,900 crore IPO
Urban Company, a technology-driven, full-stack online services marketplace, has made history as the first home services provider to list on Indian stock exchanges. The company's Initial Public Offering (IPO) aggregated approximately ₹1,900 crore.
The IPO, comprising a fresh issue and an offer for sale by certain shareholders, was met with overwhelming demand. It was the most oversubscribed IPO among new-age companies in India, with overall demand exceeding 103x, including aggregate QIB demand of over 140x.
Transaction Teams Involved
The transaction teams for Urban Company and the selling shareholders were led by experienced professionals. Prashant Gupta (National Practice Head-Capital Markets) and Ruth Chenchiah led the team for Urban Company, while Manjari Tyagi (Partner) headed the team for the selling shareholders.
The selling shareholders, which include Accel India IV (Mauritius) Limited, Bessemer India Capital Holdings II Ltd., Elevation Capital V Limited, and VYC11 Limited, were also advised by SAM. Jheel Bhargava, Bhumika Panigrahi, and Deeksha Dhingra provided support to the transaction team for the selling shareholders.
Romit Raja Srivastava, Debolina Mitra, and Pavitra Dubey were part of the team providing support to Urban Company's transaction team.
Legal Advisors
Shardul Amarchand Mangaldas & Co advised Urban Company on this IPO. Manjari Tyagi (Partner) and Devesh Pandey (Partner) advised on corporate and regulatory matters. Bharath Reddy (Partner) handled the regulatory aspects for Cyril Amarchand Mangaldas.
The law firms advising on the Initial Public Offering of Urban Company Limited were not publicly available at the time of writing.
Book Running Lead Managers
Cyril Amarchand Mangaldas advised the book running lead managers on Urban Company's IPO. Medhashree Verma (Senior Associate), Anjini Ganguly, Ritvik Maheshwari, Abhinav Singh Chauhan, and Palak Dwivedi provided support to the transaction team for Cyril Amarchand Mangaldas.
Gokul Rajan (Partner, Regional Co-Head - Capital Markets - North) and Puneet Passi (Partner) led the transaction team for Cyril Amarchand Mangaldas.
Pallavi Shroff, Managing Partner, provided strategic inputs.
This historic IPO marks a significant milestone for Urban Company and the home services sector in India. As the company embarks on this new journey, it continues to connect individuals with skilled professionals for various services, primarily focusing on home and beauty categories.
