The Home Services Marketplace Urban Company opened tomorrow and raised Rs. 854 crore anchor investors collected. The issue will close on September 12. According to a publication, the company has a high price band of IPO, which has allocated 8.29 crore shares to investors in 103 APCs.

Some of the marquee names that participate in the anchor round include SBI fund, Singapore’s financial authority, HDFC MF, Fidelity Securities, Nomura, ICICI Prue Life, SBI Life, Citigroup, Goldman SSS.

Analysts believe that the IPO of Urban Company gives investors the opportunity to participate in India’s leading tech-capable home and beauty services platform with proven scalability in India’s 12,000+ micro-markets and international markets.

The company operates the hyperalal model of efficiency, network effects and high engagements, while investing in professional training, retention and technology (AI-powered recommendations, operational tools and products such as ‘original’ and ‘co-pilot’).

Looking at financial matters, the Urban company has made a strong growth, with an income of 30% and 38% in the financial year 24, with a change of net profit of Rs 240 crore, with operational leverage and unit economics.

On evaluation, on a high price band of Rs 103, the issue is Rs. 14790 crore market cap is demanded. Based on the financial year 26E annual earnings and IPO Post-IPO Capital, the company asks a market cap-to-sales multiple of 10X, which appears to be fully priced at the current financial.

“Nevertheless, we believe that the company may order a premium valuation compared to India’s other Internet tech peers run by its strong unit economics, premium service mix and Deep Vanda supply-side integration. These factors, with its initial leadership in the larger and underpenated service market, have their initial lead.”

This offer is a fresh issue of 472 crore and Rs. 1,428 crore offer is a mix of fur-for-cell-for-for-for-for-cell. The price band has been fixed at Rs 98-1010 per share.

Retail investors can apply with a minimum size of 145 shares, which translate to the lower end of the band to about Rs 14,935. Employees will get a discount of Rs 9 per share. IPO allocation is scheduled on September 15, when set for September 17 listed on BSE and NSE.