Tiger Global Offloads IPO-Bound Urban Company’s Shares Worth INR 329.7 Cr

SUMMARY

Tiger Global offloaded Urban Company’s shares worth INR 329.7 Cr via secondary transactions earlier this week, marking one of the largest pre-IPO stake sales this year

Tiger Global’s Internet Fund V offloaded 3.14 Cr shares, representing 2.14% of the company’s pre-offer paid-up equity share capital, at a price of INR 103 per share

Following the share sale, Internet Fund V’s holding in Urban Company has declined to 2% (29.4 Cr shares) from 4.14% (60.8 Cr shares) earlier

Tiger Global offloaded Urban Company’s shares worth INR 329.7 Cr via secondary transactions earlier this week, marking one of the largest pre-IPO stake sales this year.

As per an addendum by Urban Company to its RHP, Tiger Global’s Internet Fund V offloaded 3.14 Cr shares, representing 2.14% of the company’s pre-offer paid-up equity share capital, at a price of INR 103 per share.

The shares were picked up by SBI Mutual Fund schemes, ICICI Prudential funds, and Acrobat Capital Fund I.

Following the share sale, Internet Fund V’s holding in Urban Company has declined to 2% (29.4 Cr shares) from 4.14% (60.8 Cr shares) earlier.

Prior to this, Tiger Global’s Internet Fund V sold 85.04 Lakh shares to Permira for INR 103 apiece, amounting to about INR 87.6 Cr, on August 24. On the same day, Accel India IV (Mauritius) also sold 84.37 Lakh shares to Naspers Ventures, the investment arm of Prosus, at INR 103.23 apiece, translating to around INR 87.1 Cr.

This comes days before Urban Company’s IPO opens for bidding. The public issue will open on September 10 (Wednesday) and close on September 12 (Friday).

The company has fixed its IPO price band at INR 98 to INR 103 per share, valuing it at about INR 14,790 Cr (about $1.67 Bn) at the upper end of the price band.

The issue comprises a fresh issue of up to INR 472 Cr and an offer for sale of up to INR 1,428 Cr. Accel, Elevation Capital and Tiger Global are among the investors selling their shares via the OFS.

In the run up to its IPO, Urban Company’s net profit slid 45% to INR 6.9 Cr in Q1 FY26 from INR 12.6 Cr in the year-ago quarter. However, operating revenue grew 24% to INR 367.3 Cr from INR 280.8 Cr in Q1 FY25.

Following its listing, Urban Company will become the sixth new-age tech company after Ather Energy, Smartworks, ArisInfra, IndiQube and BlueStone to go public this year.