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Urban Company DRHP: To raise Rs 1,900 Cr via primary issue and OFS

EntrackrEntrackr · 2m ago
Urban Company DRHP: To raise Rs 1,900 Cr via primary issue and OFS
Medial

Home services marketplace Urban Company has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) on Monday. The IPO includes a fresh issue of equity shares worth Rs 429 crore (approximately $50 million) and an offer for sale (OFS) of equity shares amounting to Rs 1,471 crore, as per the DRHP. As part of the offer for sale, Accel India will offload shares worth Rs 433 crore, while Elevation Capital and Tiger Global will sell shares valued at Rs 346 crore and Rs 303 crore, respectively. VY Capital and Bessemer will divest shares worth Rs 216 crore and Rs 173 crore through the IPO. According to the DRHP, Elevation Capital is the largest external shareholder with 10.84%, followed by Accel India and VY Capital, which hold 10.5% and 9.18%, respectively. Steadview and Prosus each own 6.80%, while Bessemer and Tiger Global command 6.46% and 4.73% stakes, respectively. The firm’s co-founders — Abhiraj Singh Bhal, Varun Khaitan, and Raghav Chandra — collectively own 20.01%, divided equally among the three. Urban Company plans to list its shares on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The IPO will be managed by Kotak Mahindra, Morgan Stanley, Goldman Sachs, and JM Financial, who are acting as the book-running lead managers. Importantly, as an early-stage investor, Accel is set to secure a significantly larger exit than any other investor in Urban Company. Its exit value will be 16.6 times higher than Tiger Global’s, 5.6 times higher than VY Capital’s, and 97% higher than Bessemer India’s. Elevation Capital, which also invested in Urban Company during its early years, is expected to achieve a lucrative exit as well. According to the company, the net proceeds from the fresh issue will be utilized for the new technology, cloud infrastructure, lease payments, marketing, and other general corporate purposes. In the first nine months of FY25, the company posted revenue of Rs 846 crore and a restated profit of Rs 24.25 crore. For the full fiscal year ended March 2024, it reported revenue of Rs 828 crore and a loss of Rs 92.7 crore.

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Capillary Technologies files DRHP; to raise Rs 430 Cr via fresh issue

EntrackrEntrackr · 1m ago
Capillary Technologies files DRHP; to raise Rs 430 Cr via fresh issue
Medial

Capillary Technologies files DRHP; to raise Rs 430 Cr via fresh issue Loyalty management firm Capillary Technologies has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) on Thursday. The IPO includes a fresh issue of equity shares worth Rs 430 crore (approximately $50 million) and an offer for sale (OFS) of 1.83 crore equity shares, according to the DRHP. Earlier this month, the Bengaluru-based firm received the board nod for its planned Rs 2,250 crore or $265 million Initial Public Offering. Capillary Technologies International Pte. Ltd will offload approximately 77.6%, or 1.43 crore shares, of the total OFS. Other participants in the OFS include Ronal Holdings, Trudy Holdings, Filter Capital, and individual shareholders such as Sripathi Venkata Ramana Reddy, Harminder Sahni, Adarsh Reddy, Sudhakar Reddy, Sripathi Damodar Reddy, and Manjunath Nanjaiah. As per the DRHP, Capillary Technologies International Pte Ltd, the promoter, holds a 65.47% stake in the company. Ronal Holdings and AVP Fund (Avataar Ventures) follow with holdings of 7.53% and 5.51%. Trudy Holdings and Filter Capital India own 4.49% and 3.66%, respectively. Capillary Technologies plans to list its shares on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The IPO will be managed by JM Financial, IIFL Capital, and Nomura Financial Advisory, who are acting as the book-running lead managers. According to the DRHP, the net proceeds from the fresh issue will be utilized for cloud infrastructure costs, research, design, development, and other general corporate purposes. In the previous fiscal year ended March 2025, the company recorded a 14% year-on-year growth in its revenue to Rs 598 crore, up from Rs 525 crore in FY24. It also posted a net profit of Rs 14.1 crore in FY25, compared to a loss of Rs 68.3 crore in FY24.

Exclusive: Shadowfax to raise Rs 2,000 Cr via IPO; fresh issue and OFS at Rs 1,000 Cr each

EntrackrEntrackr · 2d ago
Exclusive: Shadowfax to raise Rs 2,000 Cr via IPO; fresh issue and OFS at Rs 1,000 Cr each
Medial

Exclusive: Shadowfax to raise Rs 2,000 Cr via IPO; fresh issue and OFS at Rs 1,000 Cr each Logistics startup Shadowfax is set to raise Rs 2,000 crore (around $235 million) through its upcoming IPO, as per its RoC filing. The public offering will include a fresh issue of shares worth Rs 1,000 crore and an offer for sale (OFS) of Rs 1,000 crore. Logistics startup Shadowfax is set to raise Rs 2,000 crore ($235 million) through its upcoming initial public offering (IPO), according to its filing with the Registrar of Companies (RoC). The IPO will comprise a fresh issue of equity shares worth Rs 1,000 crore and an offer for sale (OFS) of shares worth Rs 1,000 crore. ICICI Securities, JM Financial, and Morgan Stanley are acting as advisors to the public issue. This development comes after the company recently filed its draft red herring prospectus (DRHP) with SEBI via the confidential route. The Flipkart-backed company has also strengthened its board with the appointment of co-founders Gaurav Jaithlia as whole-time directors. Additionally, in line with regulatory requirements, the company has also appointed Bijou Kurien, Ruchira Shukla, Pirojshaw Sarkari, and Dinkar Gupta as independent directors. Shadowfax is reportedly aiming for a post-issue valuation of Rs 8,500 crore. The company is currently valued at around Rs 5,981 crore (approximately $712 million) following a $16.8 million investment from Mirae Asset and Nokia Growth Partners in the first tranche of its Series F round in February this year. Founded in 2015 by Abhishek Bansal, Vaibhav Khandelwal, Praharsh Chandra, and Gaurav Jaithliya, Bengaluru-based Shadowfax offers last-mile delivery services with a focus on e-commerce and hyperlocal logistics. The company claims to have a network of over 1.25 lakh monthly active delivery partners catering to segments such as grocery, food, and medicine delivery. According to data from TheKredible, Shadowfax has raised approximately $246 million to date. Eight Roads Ventures is the largest external stakeholder, followed by Flipkart, NewQuest Asia, and Nokia Growth Partners. While its FY25 numbers are yet to be filed, the company posted a revenue of Rs 1,885 crore in FY24, marking a 33.2% year-on-year growth. It also managed to narrow its losses by 91% to Rs 11.8 crore in FY24 from Rs 142 crore in FY23. Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever.

Urban Company posts Rs 846 Cr revenue in 9M FY25, locks and RO biz grows 7X

EntrackrEntrackr · 2m ago
Urban Company posts Rs 846 Cr revenue in 9M FY25, locks and RO biz grows 7X
Medial

Urban Company’s revenue from operations grew to Rs 846 crore in the first nine months of FY25 from Rs 601 crore in the first three quarters of FY24, its financial statements disclosed in the DRHP show. Urban Company provides home services, including spa and salon treatments, AC repair, electrical work, painting, wall panel installation, pest control, and more. Revenue from these services contributed 75% of the company’s total collections, which rose 31% to Rs 639 crore in the nine months ending December FY25. The remaining operating revenue came from the sale of products to customers and professionals, amounting to Rs 207 crore during the same period. In addition to selling white-label products for salon services, the company also supplies locks, panels, and water filtration (RO) systems, which increased 7X to Rs 75.8 crore in 9M FY25 from Rs 10.8 crore in 9M FY24. Importantly, Urban Company’s international business accounts for Rs 116.4 crore of revenue during the first three quarters of FY25. It also added Rs 84.2 crore from other income (interest income on zero-coupon bonds and fixed deposits), which took the overall revenue to Rs 930 crore in the first nine months of the last fiscal year. On the expense side, employee benefits accounted for 28.5% of the overall expenditure, which stood at Rs 258 crore during the first nine months of FY25. Urban Company spent Rs 160 crore on advertising and promotional activities and Rs 148 crore on procurement costs during the same period. The incentive given to professionals, outsourced support, cost, freight, warehousing, legal, and other overheads took the overall expenditure up by 23.2% to Rs 903 crore in 9M FY25 from Rs 733 crore in 9M FY24. A combination of over 40% revenue growth and tighter cost controls helped Urban Company swing to a profit before tax of Rs 27.1 crore in the first nine months of FY25, compared to a loss of Rs 57.7 crore during the same period last year. The company’s Return on Capital Employed (ROCE) improved to 1.84%, while its EBITDA margin rose to 6.78%. At the unit level, Urban Company spent Rs 1.07 to generate a unit of operating revenue. As of December 2024, its total current assets stood at Rs 1,514 crore, including Rs 591 crore in cash and bank balances. Urban Company plans to raise Rs 1,900 crore through its initial public offering (IPO), comprising a fresh issue of Rs 429 crore and an offer for sale (OFS) worth Rs 1,471 crore. The price band for the Tiger Global-backed company is yet to be announced. As part of the OFS, investors including Accel, VY Capital, Prosus, Bessemer, and Elevation Capital will divest a portion of their holdings.

Amagi files DRHP for Rs 1,020 Cr fresh issue; Accel, Norwest, PI to sell shares in OFS

EntrackrEntrackr · 1h ago
Amagi files DRHP for Rs 1,020 Cr fresh issue; Accel, Norwest, PI to sell shares in OFS
Medial

Amagi files DRHP for Rs 1,020 Cr fresh issue; Accel, Norwest, PI to sell shares in OFS Amagi plans to raise Rs 1,020 crore through a fresh issue of equity shares, while existing investors will offload up to 3.4 crore shares via an Offer for Sale (OFS). Cloud-based SaaS platform Amagi Media Labs has filed its Draft Red Herring Prospectus (DRHP) with SEBI, marking a key step toward its public market debut. According to the DHRP, Accel, Norwest Venture Partners, Avataar Ventures, PI Opportunities Funds, and others are part of the OFS. Accel, through two entities, Accel India VI and Accel Growth VI will divest over 60 lakhs shares while Norwest Ventures and PI Fund are looking to sell 79 lakhs and 99 lakhs shares respectively in OFS. Avataar’s AVP I Fund will also offload nearly 18 lakhs shares. Trudy Holdings, Prem Gupta, Rahul Garg, Rajesh Ramaiah and other individual shareholders will also participate in the partial exit during the offer for sale. Founded in 2008, Amagi provides cloud-native solutions for broadcast and streaming TV platforms, enabling content owners to launch, distribute and monetize live linear channels globally. The company counts global media brands and FAST (Free Ad-Supported Streaming TV) platforms as clients, with the U.S. being its largest market. The IPO proceeds from the fresh issue will be deployed toward strategic investments in technology and product development, business expansion, and general corporate purposes. The company is also considering a pre-IPO placement of up to Rs 204 crore, which would reduce the size of the fresh issue accordingly. Amagi converted into a public company in May this year in preparation for the listing. The IPO is being managed by a consortium of banks, including Kotak Mahindra Capital, Citigroup, Goldman Sachs, IIFL Capital, and Avendus. As per the DRHP filings, Amagi’s has recorded a 32% year-on-year increase in its revenue to Rs 1,163 crore in FY25 from Rs 879 crore in FY24. With the decent growth, the company has managed to reduce its losses by 72% to Rs 68.7 crore in FY25, compared to Rs 245 crore in FY24. According to startup data intelligence platform TheKredible, SaaS unicorn Amagi has raised approximately $340 million to date from prominent investors such as Premji Invest, Accel, General Atlantic, and others. Indian SaaS companies are making headlines with ambitious IPO plans amid strong sector growth.

Bluestone files DRHP for Rs 1,000 Cr IPO; Saama, Kalaari to exit

EntrackrEntrackr · 7m ago
Bluestone files DRHP for Rs 1,000 Cr IPO; Saama, Kalaari to exit
Medial

Omnichannel jewellery retailer Bluestone has filed its draft red herring prospectus (DRHP) with the Security Exchange Board of India (SEBI) for an initial public offering (IPO) on Thursday. The firm has proposed to raise funds through a fresh issue of equity shares aggregating up to Rs 1,000 crore (approximately $119 million) and an offer for sale (OFS) of up to 2.398 crore equity shares, according to the DRHP. Accel Capital will divest 14.6% of its holding in the offer for sale (OFS) while Iron Pillar and Sunil Kant Munjal will offload 31.9% and 51.6%, respectively. Samma Capital, Ivycap Ventures, and Kalaari Capital will take a complete exit from the company in OFS. The fresh issue and OFS will be allotted at a face value of Re 1 while the company will decide the price band and minimum lot band in consultation with the book-running lead managers shortly. According to the DRHP, Accel Capital is the largest external stakeholder with 12.25% followed by Sunil Kant Munjal (Hero Enterprise) and Kalaari Capital and MIH Investment which hold 5.65%, 5.15%, and 4.43%, respectively. Peak XV, Iron Pillar, Steadview, and Kamath Associates are some other notable investors in Bluestone. Axis Capital, IIFL Capital, Kotak, and Kfintech are the book-running lead managers of the issue. In September, Bluestone launched a pre-IPO funding round worth Rs 900 crore. According to data from TheKredible, the company’s post-money valuation reached approximately Rs 7,750 crore ($922 million) after the latest tranche from the company’s founder and CEO Gaurav Singh Kushwaha. For the quarter ending in June 2024, Bluestone reported Rs 348.2 crore in revenue from operations with a loss of Rs 59.2 crore in the same period. In the previous fiscal year (FY24), Bluestone achieved a 64% year-on-year growth in revenue, increasing to Rs 1,266 crore from Rs 771 crore in FY23. During the same period, the firm reduced its losses by 15%, bringing them down to Rs 142 crore in FY24. Bluestone provides jewellery collections for both men and women, available through its website and network of offline stores. According to the DRHP, it operates over 203 stores across 86 cities.

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