Group update

Urban Company, India’s leading technology platform for home services, has today listed on India’s National and Bombay Stock Exchanges (NSE and BSE), at a valuation of INR 253.02 billion ($3 billion).Prosus has been a committed investor in Urban Company since 2021 and will continue to hold its existing ~7% stake in the company post-IPO.

Urban Company’s IPO is a significant milestone for India’s maturing technology ecosystem. The listing reflects the company’s progress in delivering consistent growth, achieving profitability, and driving governance standards that are aligned with global public market expectations.

Ashutosh Sharma, Head of Prosus India, said: “We are thrilled to celebrate Urban Company’s IPO – a landmark moment for the company, its exceptional team, and India’s vibrant technology ecosystem. Since our first investment in 2021, we have watched Urban Company evolve from a ground-breaking initiative into a category-defining platform, transforming how millions of people access trusted home services. This IPO is more than a listing; it is a milestone in the coming of age of India’s digital economy. At Prosus, we are proud to back companies that are reshaping industries, creating opportunities, and building long-term value. Our continued investment in Urban Company reflects our deep conviction in the company’s future and in India’s extraordinary growth story.”

Founded in 2014, Urban Company connects millions of consumers with trained and verified service professionals across categories including beauty, home repairs, cleaning, and appliance maintenance.  In FY25, the company grew 38% year-on-year and turned profitable, with its India consumer services segment delivering an EBITDA margin of around 10%. Urban Company has also been transformational for the gig economy in India, offering steady income opportunities, dignity of work, an employee stock option plans and social safety nets such as insurance and healthcare to its service partners.

Prosus has been a supportive partner in Urban Company’s journey, contributing expertise and ecosystem support alongside capital. Together, the two companies have collaborated on ESG initiatives including mobility support, scooter financing, and skilling programmes for female service partners. In advancing its technology capabilities, Urban Company has engaged closely with Prosus’s 150-member AI team in Amsterdam, as the company works towards enhancing efficiency and customer experience through advanced AI tools. This partnership illustrates how Prosus works with its portfolio companies to strengthen capabilities and deliver long-term value.

Abhiraj Singh Bhal, Co-founder and CEO of Urban Company, said: “This IPO is a milestone in our journey, but it is only the beginning of the next phase of growth. With Prosus as a steadfast partner, we have strengthened our governance, expanded our technology capabilities, and scaled responsibly. Their ecosystem support has been instrumental in making Urban Company more resilient and efficient. As we step into the public market, we remain committed to long-term value creation for our customers, partners, and investors.”

Urban Company’s IPO marks the third listing from the Prosus India portfolio in the past 12 months, following Swiggy and BlueStone, highlighting India’s position as one of Prosus’s top three ecosystems globally. Over the past decade, Prosus has steadily deployed capital across consumer internet, financial services, and AI in India, building a portfolio of transformational businesses. This long-term approach reflects Prosus’s belief in India’s structural growth story and the increasing maturity of its digital economy. With Urban Company’s IPO, Prosus further underscores its role as a patient capital partner committed to supporting innovative companies as they scale responsibly and create lasting value.