Urban Company files draft papers for Rs 1,900-crore IPO

Tiger Global-backed Urban Company filed for an initial public offering of Rs 1,900 crore ($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 Rs 429 crore by selling new shares, while existing investors plan to offload stock worth Rs 1,471 crore.

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…