Tiger Global-backed Indian startup Urban Company has set a price band of 98-103 rupees per share for its initial public offering (IPO), according to a newspaper advertisement.
The ₹1,900 crore ($217 million) IPO will open for bids from September 10 to September 12, while anchor investors can submit their bids on September 9.
The company, which provides mobile app-based beauty and home care services, filed draft papers in late April. SEBI approved the IPO on Tuesday.
Urban Company is looking to raise ₹472 crore through the issue of fresh shares, and plans to use the proceeds from the offering to develop tech offerings, leasing offices and marketing.
Its existing shareholders, including domestic private equity firms Accel India and Elevation Capital, will collectively offload shares worth ₹1428 crore .
The online services aggregator is also present in the UAE, Saudi Arabia, and Singapore although India accounts for about 90% of its overall revenue, its prospectus showed.