Urban Company (formerly UrbanClap), India’s largest home services platform, is set to launch a ₹1,900 crore IPO, marking a milestone for the gig economy. With operations in 59 cities across India, UAE, Singapore, and the U.S., the company reported a turnaround profit of ₹242 crore in 9M-FY24 after years of losses. This guide delves into its asset-light marketplace model, 46,000+ service partners, and how it plans to use IPO proceeds for AI upgrades and global expansion—key insights for investors eyeing this tech-driven disruptor.
Urban Company IPO: Complete Investor’s Guide
1. IPO Key Details
₹1,900 Cr
Total Issue Size
₹429 Cr
Fresh Issue
₹1,471 Cr
Offer for Sale (OFS)
Use of Proceeds:
- ₹190 crore for AI/tech upgrades
- ₹70 crore for global expansion
- ₹80 crore for brand marketing
- Balance for working capital
2. Business Model
Customer books service via app
AI matches with verified partner
Service completed with quality check
Revenue Streams:
- Commission (20-30% per booking)
- Subscription plans (UC Plus)
- Product sales (RO purifiers, etc.)
3. Financial Performance
FY2024
9M-FY2025
| Metric | FY2023 | FY2024 | 9M-FY2025 |
|---|---|---|---|
| Revenue (₹ cr) | 637 | 827 | 846 |
| Profit/Loss (₹ cr) | -312 | -93 | 242 |
| Active Partners | 42,000+ | 46,000+ | 50,000+ |
4. Service Coverage
India (50+ cities)
- Delhi NCR
- Mumbai
- Bangalore
- Hyderabad
- Pune
- Chennai
- Kolkata
- Jaipur
- Ahmedabad
International
- Dubai, UAE
- Abu Dhabi, UAE
- Riyadh, Saudi Arabia
- Jeddah, Saudi Arabia
- Singapore
5. Service Categories
Home Repair
- Plumbing
- Electrical
- Carpentry
- AC Service
Beauty
- Salon-at-home
- Massage
- Skincare
Cleaning
- Deep cleaning
- Pest control
- Disinfection
6. Partner Program
Apply with skill proof
Clear background check
Complete training
Start earning
₹25K-40K
Avg. monthly earnings
20-30%
Commission per booking
1L+
Top partners earn
7. Risks & Challenges
Regulatory Changes
New gig-worker laws may increase costs
Seasonal Impact
22% revenue dip during monsoons
Competition
Housejoy, NoBroker in domestic market