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News on Medial
Urban Company is eyeing profits and an IPO. But gigsters are angry
Livemint
·
1y ago
Medial
Indian gig workers for home services platform Urban Company are protesting new features that reduce their flexibility and autonomy. The company rolled out an "auto acceptance" feature that assigns jobs to workers without giving them the option to accept or reject the bookings. Workers have claimed that this feature has resulted in lower earnings, reduced work-life balance, and increased pressure. They argue that the new system takes away the primary reasons they joined the platform in the first place and has prompted protests against the company's policies.
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How Norwest, TPG stand to mint money as SK Finance eyes $1 bn valuation in IPO
VCCircle
·
1y ago
Medial
Non-banking lender SK Finance is preparing for an initial public offering (IPO) and is eyeing a valuation of $1 billion. The company recently concluded a pre-IPO funding round worth $160 million from new investors such as Motilal Oswal Alternates and existing backers including TPG Growth. With this IPO, both Norwest and TPG stand to make significant profits. SK Finance aims to raise additional capital to fuel its growth and expand its operations in the non-banking financial sector.
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Grapevine: Urban Company, Groww, Apollo Global-backed Tenneco plan IPOs
VCCircle
·
6m ago
Medial
Reports indicate that Urban Company, Groww, and Tenneco are preparing for IPOs in the upcoming months. Prosus-backed Urban Company is expected to file draft papers for a Rs 3,000-crore IPO by March's end. Groww, an investment platform, and Apollo Global-backed Tenneco are also planning their initial public offerings. These moves demonstrate the continued interest and activity in the market, as companies seek to expand and tap into public investment.
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Urban Company secures shareholder nod for IPO, to raise Rs 528 crore in fresh capital
Economic Times
·
4m ago
Medial
Urban Company has received shareholder approval for an IPO to raise Rs 528 crore in fresh capital. Initially targeting a Rs 3,000 crore IPO, the company adjusted its plans due to market conditions. The IPO will include both primary capital raise and an offer-for-sale from investors. Urban Company has appointed Kotak Mahindra, Goldman Sachs, and Morgan Stanley as bankers. The company narrowed its net loss in fiscal 2024 and reported a pre-tax profit in early 2025.
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Urban Company takes valuation knock ahead of IPO; Accel, Elevation, Bessemer set for windfall
VCCircle
·
3m ago
Medial
Urban Company, a tech platform linking consumers with home services, is preparing for an initial public offering (IPO), leading to a valuation decrease. Notably, investors Accel, Elevation, and Bessemer are expected to benefit significantly. Established by founders Varun Khaitan, Raghav Chandra, and Abhiraj Bhal, the company features several venture capital firms among its investors. The IPO will facilitate partial exits for five of its key backers as part of the offer for sale.
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Dutch investor Prosus pegs IPO-bound Urban Company’s fair value at $2.4 billion
Economic Times
·
1m ago
Medial
Dutch investor Prosus has valued Urban Company, an at-home services platform, at $2.4 billion. It holds a 6.8% stake in the company, which is preparing for an IPO with a Rs 1,900 crore offering. This involves a primary issue and an offer for sale by early investors. Urban Company, recently valued at $1.8 billion, is among several Prosus-backed Indian startups going public as global investors seek to monetize their long-held tech investments in India.
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After Swiggy, Prosus sees PayU, Meesho and Bluestone as IPO candidates
YourStory
·
8m ago
Medial
Netherlands-based investor Prosus is considering several companies for potential IPOs in the next 18 months, including PayU, Meesho, and Bluestone. They also see future potential in companies like Eruditus, Mintifi, Captain Fresh, Vastu Housing, and Mensa Brands. Prosus recently made $2 billion in profits from selling shares in Swiggy's IPO, where it now holds a 25% stake. Additionally, Prosus is planning to increase its stake in Urban Company and PayU is expected to file its draft prospectus by May 2025.
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Swiggy, Hyundai, InCred in IPO news; Jupiter eyes SBM India
VCCircle
·
10m ago
Medial
Swiggy has received approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO) of shares. The IPO is expected to be launched in November, with discussions underway with anchor investors. In other IPO news, Hyundai is reportedly considering an IPO for its robotics unit Hyundai Robo, while digital lender InCred is said to be planning a $250 million IPO in 2022. Additionally, digital banking platform Jupiter is eyeing an IPO to acquire the Indian unit of SBM Holdings.
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EXCLUSIVE: Prosus to double down on Urban Company with $30M investment
YourStory
·
10m ago
Medial
- Prosus, a major technology investor, plans to double its investment in home services platform Urban Company ahead of the startup's anticipated public listing next year. - Prosus will invest around $30 million in an all-secondary transaction at a flat $2.6 billion valuation, giving a partial exit to Bessemer Venture Partners. - Accel Partners and Elevation Capital, early backers of Urban Company, have put their plans for further stake sales on hold and will await the company's IPO next year. - Prosus' decision to increase its stake in Urban Company follows a substantial gain from its investment in Swiggy, another successful Indian startup. - Prosus is diversifying its stake beyond tech investments, with recent investments in Vastu Housing Finance and plans to invest in Bluestone, a jewellery platform. - Urban Company, founded by Abhiraj Bhal, Raghav Chandra, and Varun Khaitan, last raised funding in 2021 and has initiated conversations with investment banks for an IPO.
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Muscle and resilience: Inside ixigo's journey to the stock market
YourStory
·
1y ago
Medial
Indian online travel aggregator, Ixigo, has launched its initial public offering (IPO) to list on the Indian stock market. The company, which had previously filed for an IPO in 2021 but postponed the plans due to unfavourable economic conditions, aims to raise INR 740 crore ($99.5 million) through a combination of an offer for sale and a fresh issue of shares. It plans to use the funds for working capital, technology investment, and potential acquisitions. Ixigo's revenue and profits have both grown in the past year, and it has a user base of 429 million.
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boAt to launch $300-500 million IPO in next fiscal: Report
Inshorts
·
8m ago
Medial
Homegrown wearable and audio brand boAt is aiming to launch its $300-500 million IPO in the next fiscal, ET reported. ICICI Securities, Goldman Sachs and Nomura have been selected as bankers for the public offering, with boAt potentially eyeing valuation above $1.5 billion. boAt had initially filed for a public offering in 2022 but paused due to unfavourable market conditions.
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