SBI Mutual Fund, Acrobat Capital Fund 1, Permira, and Prosus have collectively invested around Rs 498 crore in Urban Company, the Gurugram-based app for beauty and home services, just before its Rs 1,900-crore initial public offering (IPO) opens next week. The investments occurred via share transfers from Tiger Global and Accel, as announced by Urban Company on Friday.

On September 4, SBI MF schemes (including Midcap Fund, Retirement Benefit Fund, Innovative Opportunities Fund, and Emergent India Fund) acquired shares worth Rs 250 crore, while Acrobat Capital Fund bought Rs 73.62 crore. Earlier, on August 24, Permira secured Rs 87.6 crore from Tiger Global, and Prosus picked up Rs 87.1 crore from Accel—all at Rs 103 per share. This involved transferring 31,419,735 equity shares (2.14% stake) from Tiger Global's affiliate.

Promoters Abhiraj Singh Bhal, Raghav Chandra, and Varun Khaitan each hold about 9.77 crore shares, valued over Rs 1,000 crore at the upper price band.

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The IPO, opening September 10 and closing September 12, has a price band of Rs 98-103, valuing the company at up to Rs 14,790 crore. It includes a fresh issue of Rs 472 crore and an offer for sale (OFS) of Rs 1,428 crore by investors like Accel India, Elevation Capital, Bessemer India, Tiger Global, and VYC11 Ltd.

Urban Company operates a tech platform for services like cleaning, pest control, plumbing, appliance repair, painting, skincare, hair grooming, and massages, delivered by trained professionals. It serves India, UAE, Singapore, and Saudi Arabia, focusing on quality-driven, on-demand solutions

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