Urban Company IPO

About Urban Company IPO

Urban Company Limited IPO is an IPO aggregating up to 18,44,66,018 shares (aggregating up to ₹1,900 crores). It consists of an offer for sale aggregating up to 13,86,40,776 shares of ₹1(aggregating up to ₹1,428.00 Cr) and a fresh issue aggregating up to 4,58,25,242 shares (aggregating up to ₹472.00 crores).

The IPO opens on September 10,2025 and September 12, 2025. The shares will be allotted on Mon, Sep 15, 2025 and the listing of shares will take place on Sept 17, 2025. The credit of shares to the demat account will take place on Tue, Sep 16, 2025 and the initiation of refunds will take place on Tue, Sep 16, 2025.

Urban Company operates a technology-driven, full-stack online services marketplace for quality driven services and solutions across various home and beauty categories. They operate in 51 cities across India, United Arab Emirates (“UAE”) and Singapore, excluding cities served by our joint venture in Kingdom of Saudi Arabia (“KSA”), of which 47 cities are in India, as at June 30, 2025. Their platform enables consumers to easily order services, including cleaning, pest control, electrician, plumbing, carpentry, appliance servicing and repair, on demand home-help assistance, painting, skincare, hair grooming and massage therapy.

Objective of Urban Company IPO

• Expenditure for new technology development and cloud infrastructure.
• Expenditure for lease payments for their offices.
• Expenditure for marketing activities.
• General corporate purposes.

Industry Outlook

The home services market in India is a rapidly evolving sector that encompasses a wide array of services aimed at enhancing the convenience and quality of life for households. This market includes both traditional and modern service offerings, ranging from basic household chores to specialized professional services. With the increase in urbanization and busier lifestyles, the demand for these services has surged, making it a pivotal area for growth in the Indian economy.

The fast-expanding gig workforce grew from approximately 7.7 million in FY2021 (NITI Aayog) to approximately 12.6 million in FY2025 and is projected to reach approximately 23.1 million by FY2030.

The wide range of offerings, from beauty services to home repairs and renovations, with consumption patterns varying significantly based on household income, convenience needs, and personal preferences. High-income and dual-income households typically show higher frequency and spending on these services, while low-income households gradually adopt them as incomes rise. This diverse market was valued at ₹5,100–5,210 billion (approximately US$ 60 billion) in FY2025 and is projected to grow at a 10-11% CAGR from FY2025 to FY2030P, driven by anticipated increasing urbanization and rising incomes.

The Indian market for water purifiers was valued at ₹47-50 billion (approximately US$ 0.6 billion) in FY2025 and projected to grow at a CAGR of 16-18% by FY2025. The penetration of water purifiers in India was less than 10% in FY2025 and is significantly trailing other household appliances like air conditioners, refrigerators, televisions, and washing machines.

The home services sectors in regions like the Kingdom of Saudi Arabia (“KSA”), UAE, and Singapore, present a unique blend of challenges and opportunities driven by their distinct socio-economic landscapes. The home service market in the three countries totals ₹1,955-2,025 billion (approximately US$ 23 billion) as of CY2024, with KSA being the largest market, followed by UAE and Singapore. These three markets are projected to grow at 9-10% CAGR till CY2029, with KSA growing the fastest at 10-11%, followed by UAE at 7-8% and Singapore at 6-7% in the same period. These markets, characterized by high urbanization rates, expatriate-heavy populations, and high disposable incomes, showcase a growing demand for organized, professional home services.

Company Information

Urban Company operates a technology-driven, full-stack online services marketplace for quality driven services and solutions across various home and beauty categories. They operate in 51 cities across India, United Arab Emirates (“UAE”) and Singapore, excluding cities served by their joint venture in Kingdom of Saudi Arabia (“KSA”), of which 47 cities are in India, as at June 30, 2025. Their platform enables consumers to easily order services, including cleaning, pest control, electrician, plumbing, carpentry, appliance servicing and repair, on demand home-help assistance, painting, skincare, hair grooming and massage therapy. These services are delivered by trained and independent service professionals at the consumers’ convenience. In Fiscals 2023 and 2024, they expanded into home solutions with the launch of water purifiers and electronic door locks, respectively, under the brand name ‘Native’. They have also recently launched, and are in the process of scaling up, on demand home-help assistance (“InstaHelp”) offering in specific micro markets across a number of cities in India. They are focused on enabling delivery of a quality driven, standardized and reliable service experience. To achieve this, they have engaged a select network of background verified independent service professionals, empowering them with comprehensive support. This includes detailed in-house training, established standard operating procedures, access to technology, tools and consumables, third party financing, insurance, and branding assistance. This approach enables the service professionals to improve their skills, enhance quality of service delivery and increase their earning potential.

Strengths of Urban Company IPO

• Their multi-category, hyperlocal, home services marketplace benefits from network effects.

• Improved quality of service professionals through in-house training.

• Access to tools and consumables: They procure products directly from original equipment manufacturers (“OEMs”) and authorized distributors and sell products under their own ‘Native’ brand, ‘Elysian’ and ‘Crave’ brands or through exclusive arrangements with brands such as ‘Go Tile’ and ‘Azi-Clean’.

• Service professionals typically retained 72% of the amount paid by the consumers towards services during Fiscal 2025.

• Innovation and product development capabilities.

• Robust technology platform powering service fulfilment, consumer growth and service professional empowerment.

• Scale and technological capabilities have helped them enhance their profitability.

• Promoter led company with a professional management team and an experienced board.

Risks of Urban Company IPO

• the company has incurred negative cash flows in the past. Re-occurence of negative cash flows will impact the business.

• Their platform relies on third-party cloud infrastructure, and they depend on mobile operating systems for their applications.

• They rely on their partnerships with financial institutions and other third parties for payment processing infrastructure and for the provision of services through their platform.

• Their business is subject to seasonality, which may result in seasonal fluctuations in operating results and cash flows.

• Dependency on consumer experience. If they are unable to continue to provide a satisfactory experience to their consumers, their business and reputation may be materially and adversely affected.

• They face intense competition from traditional offline players and due to low penetration of online services across the markets they serve, it may result in reduced demand for services on their platform or reduced number of service professionals sign ups.

• The company needs to attract and retain service professionals on their platform.

• Failure to maintain or improve their technology infrastructure could harm their business.

• They face payment and fraud risks that could materially and adversely affect their business.

Peers Comparison

There are no listed companies in India or globally which operate in a similar business model as that of Urban Company. They operate an online marketplace for quality-driven services and solutions across various home and beauty categories for consumers.

Anchor Investor Information

The Anchor Investor Bid/Offer Date shall Tuesday, September 9, 2025*

• The Company, in consultation with the BRLMs, may consider participation by Anchor Investors in accordance with the SEBI ICDR Regulations.

IPO Registrar and Book Running Lead Managers

Book running lead managers:

Kotak Mahindra Capital Company Limited Morgan Stanley India Company Private Limited Goldman Sachs (India) Securities Private Limited JM Financial Limited

Registrar for the IPO is MUFG Intime India Private Limited

Business Model

They operate a technology-driven, full-stack online services marketplace for quality-driven services and solutions across various home and beauty categories.

They operate their business under three business segments: (a) India Consumer Services: Their consumers can access services across home, beauty, and wellness services. (b) Native: They sell water purifiers and electronic door locks to consumers in and outside India. (c) International Business: Their consumers can access home and beauty services in the UAE, Singapore, and KSA through their marketplace.

Urban Company Growth Trajectory

The total income for the company as on 31st March 2025 was ₹1260.677 crores compared to ₹927.991 crores as on 31st March, 2024. Profit After Tax for the company as on 31st March 2025 was ₹239.765 crores compared to ₹(92.772) crores as on 31st March, 2024. The company’s adjusted EBITDA as on 31st March 2025 was ₹12.091 crores compared to ₹(119.012) crores as on 31st March, 2024.

Urban Company Market Position

They operate in 51 cities across India, United Arab Emirates (“UAE”) and Singapore, excluding cities served by their joint venture in Kingdom of Saudi Arabia (“KSA”), of which 47 cities are in India, as at June 30, 2025.

As of 31st March, 2025, the company’s Total Income, Profit After Tax, and EBITDA were ₹1260.677 crores, ₹239.765 crores, and ₹12.091 crores, respectively.

How to check allotment status of Urban Company IPO?

1. Visit the Registrar's Website
To check the IPO allotment status for Urban Company Limited IPO, visit the official website of MUFG Intime India Private Limited, the registrar for this IPO. On their IPO allotment status page, enter your Permanent Account Number (PAN), application number, or Demat account ID. Then, click the ‘Submit’ button to view your allotment status. Ensure you have the necessary details ready for a quick and accurate check.

2. Check on the Bombay Stock Exchange Website
The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to the BSE website and find the 'Investors' tab. Under 'Investors', click on 'IPO'. This will take you to the IPO allotment status page.

On the BSE IPO page, follow these steps

• Select 'Equity' from the dropdown menu
• Choose 'Urban Company Limited' in the next dropdown
• Enter your application number
• Enter your PAN
• Click 'Search'

Your Urban Company Limited IPO allotment status will be displayed.

3. Verify on the National Stock Exchange Website
The National Stock Exchange (NSE) has an IPO Bid Verification module. Use this to check Urban Company Limited IPO allotment status.

Go to the NSE website and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'.

On the NSE IPO Bid Verification page, enter:

• Application number
• PAN

Then click 'Submit'. Your Urban Company Limited IPO bid and allotment details will be displayed.

How to apply for Urban Company Limited IPO?

• Step 1: Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
• Step 2: Specify IPO details - Enter the number of lots and the price you wish to apply for.
• Step 3: Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
• Step 4: Mandate Notification - Your UPI app will receive a mandate notification to block funds.
• Step 5: Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.