Prosus sees IPO-bound Urban Company’s fair value at around $2.4B

Prosus, one of Urban Company’s biggest shareholders, has pegged the fair value of the IPO-bound firm at about $2.4 billion, according to its annual report.

The Netherlands-based investor, which holds around 6.8% stake in the home services provider, according to the draft red herring prospectus filed by the company, has pegged the fair value of its stake at $161 million, as of March 31, 2025.

Urban Company was last valued at about $2.8 billion, according to media reports.

In September, YourStory had exclusively reported that Prosus was doubling down on its investment in Urban Company with an additional $30 million in an all-secondary transaction.

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The on-demand services platform filed its DRHP in April this year, targeting to raise Rs 1,900 crore through the public offering. According to the document, the IPO comprise a fresh issue size of Rs 429 crore. This component is smaller than the shareholder approval for Rs 528 crore secured from Urban Company's board.

The DRHP filed with the Securities and Exchange Board of India (SEBI) also includes an offer-for-sale component worth Rs 1,471 crore. Accel India, Elevation Capital, Bessemer India, Tiger Global, and VY Capital are expected to offload their stake in the firm.

On June 18th, the company had disclosed that it recorded its first full year of profitability, posting a net profit of Rs 239.8 crore for the financial year ending March 2025, compared to a net loss of Rs 92.7 crore in FY24 driven by cost controls and a large tax credit.