Shardul Amarchand Mangaldas & Co. (SAM) acted as the legal advisor to Urban Company Limited in connection with its initial public offering aggregating to approximately ₹1,900 crore, comprising a fresh issue and an offer for sale by certain shareholders, including affiliates of Accel, Bessemer, Elevation Capital, Tiger Global and Vy Capital. The book running lead managers were Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, Goldman Sachs (India) Securities Private Limited, and JM Financial Limited.
This landmark transaction marked the first listing of a home services provider on the Indian stock exchanges. This is also the most oversubscribed IPO among new-age companies in India, with overall demand exceeding 103x, including aggregate QIB demand of over 140x.
The transaction team advising the Company was led by Prashant Gupta, National Practice Head-Capital Markets; Ruth Chenchiah, Partner; Romit Raja Srivastava, Principal Associate; Debolina Mitra, Senior Associate and Pavitra Dubey, Associate.
The transaction team advising selling shareholders Accel India IV (Mauritius) Limited, Bessemer India Capital Holdings II Ltd., Elevation Capital V Limited, and VYC11 Limited was led by Manjari Tyagi, Partner; Jheel Bhargava, Senior Associate; Bhumika Panigrahi, Associate and Deeksha Dhingra, Associate.
Manjari Tyagi, Partner and Devesh Pandey, Partner, advised on corporate and regulatory matters. Pallavi Shroff, Managing Partner provided strategic inputs.
