Dutch investor Prosus pegs IPO-bound Urban Company's fair value at $2.4 billion
Dutch technology investor
Prosus
has pegged the fair value of at-home services platform
Urban Company
at $2.4 billion, according to its FY25 annual report.
The Gurugram-based firm is among several Prosus-backed Indian startups preparing to go public.
Prosus Ventures
holds a 6.8% stake in Urban Company, which recently
filed a draft red herring prospectus
(DRHP) for a Rs 1,900 crore
initial public offering
(IPO).
The offer includes a primary issue of Rs 429 crore and an offer for sale (OFS) of Rs 1,471 crore, through which early investors, including
Accel
, Elevation Capital, Tiger Global, and Vy Capital, will offload stakes.
Over the past year, Urban Company closed multiple
pre-IPO secondary transactions
at a valuation of around $1.8 billion, ET reported.
Another Prosus-backed company, omnichannel jewellery retailer BlueStone, is also
gearing up for an IPO
. As reported by ET on June 18, the private wealth management arms of 360 One and Centrum Wealth are in talks to facilitate secondary transactions worth
Rs 300–350 crore
in BlueStone. Both platforms are expected to sell the stakes to their clients ahead of the company's public market debut.
The transaction is also likely to value BlueStone at around Rs 10,500 crore ($1.2 billion), about 30% higher than its last reported valuation of Rs 8,100 crore in August 2024, when it
raised Rs 900 crore
through a mix of primary and secondary funding from investors including Peak XV Partners and Prosus.
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Meanwhile,
ecommerce marketplace Meesho
, where Prosus owns about 13%, is expected to
file its DRHP
in the coming weeks. The company recently completed a reverse flip to shift its domicile to India, a key regulatory requirement ahead of its IPO plans.
The listing preparations come amid a broader trend of global investors seeking to partially monetise long-held Indian tech bets, amid signs of a gradual revival in IPO activity.
Prosus has been among the most active foreign investors in India's startup ecosystem, with a portfolio spanning fintech, edtech, ecommerce, logistics, and consumer tech.
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