Urban Company IPO to hand Accel, Elevation bumper returns on Dalal Street

Urban Company’s Rs 1,900 crore IPO is set to be a milestone for the Gurugram-based home services marketplace and a big payday for its investors. At the upper price band of Rs 103 per share, the company is valued at around Rs 15,000 crore ($1.7 billion). This brings multi-bagger returns for its earliest backers while offering sizeable liquidity to late-stage funds.

Elevation Capital holds the single-largest institutional stake at 10.84%, valued at about Rs 1,626 crore. With an average cost of acquisition of Rs 5.39 per share, the fund is sitting on a…