Urban Company Starts Shutting Its Saudi Subsidiary Over Profitability Concerns

As per its DRHP, Urban Company has begun transferring its Saudi operations to a joint venture, with the intent of winding down its step-down subsidiary, Urban Company Arabia

Urban Company Arabia saw its loss before tax widen by 182% to INR 23.4 Cr in 9M FY25 from INR 8.3 Cr in the year-ago period

Last month, Urban Company filed its DRHP with SEBI for INR 1,900 Cr IPO

IPO-bound consumer services unicorn Urban Company has begun winding down its step-down subsidiary in Saudi Arabia as it failed to achieve or maintain…