Urban Company said it plans to go public this year, fertility clinic network Indira IVF has made a confidential IPO filing, and logistics startup Ecom Express has slashed 500 jobs and paused its IPO plans.
Home services firm Urban Company eyes IPO this year
Gurgaon-based home services firm Urban Company plans to launch an initial public offering this year aiming to raise around $350 million (Rs 3,000 crore), Entrackr reported on Tuesday. The company will also change its name to Urbanclap Technologies India Limited from Urbanclap Technologies India Private Limited.
The company completed its ESOP program in 2021 at a valuation of $2.8 billion. It also completed a buyback last year at a valuation of $2.2 billion to $2.5 billion.
Established in 2014, the company offers a range of home services like hair cuts, beauty treatments, massage therapy, cleaning, plumbing, and carpentry across India, Singapore, the UAE, and Saudi Arabia.
Indira IVF makes $400m confidential IPO filing
Indira IVF filed for a Rs 3,500 crore ($400 million) IPO through the confidential pre-filing route, around 18 months after EQT acquired a controlling stake in the fertility clinic chain, according to a Moneycontrol report.
As per plans, the EQT component will be for Rs 2,900 crore and the balance portion of Rs 600 crore by the founders/ promoters group.
With this move, Indira IVF has joined the likes of Oyo, Swiggy, Tata Play, Vishal Mega Mart and Credilla Financial Services, to have chosen the confidential pre-filing route in which the IPO documents are privately given to the authorities before making them publicly available.
Ecom Express cuts 500 jobs and halts IPO plans
AI-powered third party logistics startup Ecom Express has slashed 500 jobs to cut its rising expenses. The company has also put its IPO plan on hold, according to a report in Mint.
Established in 2012, the Gurugram-based company has more than 15,600 employees and associates, and 3,400 delivery centres. It offers first-mile pickup, processing, network operations, last-mile delivery, returns management, storage, and fulfilment solutions.
The company is facing tough competition from the likes of Delhivery and XpressBees, which have their own fleets.
