Shardul Amarchand Mangaldas advises Urban Company on ₹1,900 crore Initial Public Offering
The Leading Law firm in India, Shardul Amarchand Mangaldas & Co. (SAM) advised Urban Company Limited on its initial public offering aggregating to approximately ₹1,900 crore. The IPO comprised 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 and was also the most oversubscribed IPO among new-age companies in India, with overall demand exceeding 103x, including aggregate QIB demand of over 140x.
The SAM team advising Urban Company was led by Prashant Gupta (National Practice Head – Capital Markets), along with Ruth Chenchiah (Partner), Romit Raja Srivastava (Principal Associate), Debolina Mitra (Senior Associate), and Pavitra Dubey (Associate).
The team advising the 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), assisted by Jheel Bhargava (Senior Associate), Bhumika Panigrahi (Associate), and Deeksha Dhingra (Associate).
Manjari Tyagi (Partner) and Devesh Pandey (Partner) advised on corporate and regulatory matters, while Pallavi Shroff (Managing Partner) provided strategic inputs.
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