White & Case advises on Urban Company’s IPO – a first of its kind in India

Global law firm White & Case LLP has advised the book running lead managers on the INR 19 billion (US$227.6 million) Rule 144A/ Regulation S initial public offering (IPO) of Urban Company Limited on the Bombay Stock Exchange and the National Stock Exchange of India.

"This highly successful IPO, the most subscribed to date this year, has established Urban Company as the first publicly listed app-based home services platform in India," said White & Case partner Rahul Guptan, who co-led the Firm's deal team. "Oversubscribed 108 times, this IPO underlines Urban Company's market leadership and the strong investor appetite in India's rapidly expanding technology services sector."

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.

Urban Company, formerly known as UrbanClap Technologies India Limited, operates a technology-driven, full-stack online services marketplace for quality-driven services and solutions across various home and beauty categories. It also sells water purifiers and electronic door locks under the Native brand.

The White & Case team which advised on the transaction was co-led by partners Rahul Guptan (London) and Kaya Proudian (Singapore) and included partners Elodie Gal and Steven Gee (both New York), local partner James Hsiao (Hong Kong) and associates Hilda Leung, Paul Qu, Royston Tan (all Hong Kong), Jiawei Zheng (Mexico City), Daniel Park (New York), and Ji Yang Lim (Singapore).

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