 "Tiger Global-backed Urban Company files draft papers for $223 million IPO")
India's Tiger Global-backed Urban Company filed for an initial public offering of 19 billion Indian rupees ($223 million), its draft papers released on Monday showed.
Urban Company, which provides mobile app-based beauty and home care services, will raise up to 4.29 billion rupees by selling new shares, while existing investors plan to offload stock worth Rs 14.71 billion.
The online services aggregator plans to use over half of the funds raised from new shares for developing tech offerings, and the rest largely for office leases and marketing.
Urban Company operates in 59 cities across India, UAE and Saudi Arabia.
The firm, also backed by Bessemer Venture Partners, joins a list of startups that are looking to or have already filed to go public, such as Physics Wallah, PhonePe and Flipkart.
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