URBANCO

By Haripriya Suresh

BENGALURU, March 26 (Reuters) - Indian corporate insurance startup Plum said on Thursday it has raised 1.93 billion rupees ($20.6 million) as part of its Series B funding round led by Peak XV Partners, valuing the company at 11.81 billion rupees, according to CEO Abhishek Poddar.

GMO Venture Partners and existing investor Tanglin Venture Partners also participated in the round.

The Bengaluru-based company plans to use the fresh capital to scale marketing and sales efforts to expand its presence in India's corporate insurance market, deepen technology investments - particularly in AI-driven claims operations - and expand into preventive and primary healthcare, Poddar said.

Until last year, Plum generated its revenue purely from insurance broking. Its newer healthcare vertical, however, is soon expected to account for a larger share of its revenue mix.

"If I look at the revenue distribution, 80% insurance and 20% healthcare. Very quickly, healthcare has become significant for us, and it's growing in triple digits," Poddar said.

"Our prediction is that healthcare within our corporate business would be roughly 40% to 45% within the next couple of years."

The company is already seeing substantial efficiency gains from AI, especially in claims-processing, which forms the bulk of its operations, Poddar added.

"In the last four years, our claims volume has grown by around 50 times. We have been able to scale by 50 times with a team that would have grown by two times. That's the kind of scale advantage and efficiency advantage that you can generate using AI," he said.

Plum, backed by Tiger Global, counts Meesho MEES.NS, PhonePe PHOP.NS, Swiggy SWIG.NS, Urban Company URBN.NS and Zomato ETEA.NS among its clients.

($1 = 93.8860 Indian rupees)

(Reporting by Haripriya Suresh in Bengaluru; Editing by Sumana Nandy)

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** Urban Company URBN.NS rises as much as ~2.6% to 112.95 rupees; last up 1%

** Motilal Oswal starts with "neutral", implying 15% upside

** Says co poised to benefit from rising urbanisation, improving incomes, but warns valuations are pricey

** Ambit Institutional Equities starts with "sell"

** Says co unlikely to meet EBITDA growth target of 10 bln rupees ($106.6 mln) by FY31 due to higher Instahelp discounting, limited expansion outside top eight cities

** Stock rated "hold" on avg; median PT is 125 rupees, per data compiled by LSEG

** URBN up 9.7% from issue price of 103 rupees; listed on September 17, 2025

($1 = 93.8380 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru)

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** Shares of Urban Company URBN.NS jump 14% to 126 rupees, their highest point in more than one month

** Stock on track for its best day since its debut on September 18, if gains hold

** On Tuesday, SBI Mutual Fund purchased 35.1 million shares in URBN via bulk deal on the NSE

** More than 27.4 million shares traded, as of 09:45 IST, 7.3x the 30-day avg volume

** YTD, URBN stock down ~6%

(Reporting by Brijesh Patel in Bengaluru)

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March 17 (Reuters) -

• ABG CAPITAL SELLS 17.4 MILLION SHARES IN URBAN COMPANY, DF INTERNATIONAL PARTNERS II SELLS 17.7 MILLION SHARES IN URBAN COMPANY VIA BULK DEALS - NSE DATA

• SBI MUTUAL FUND BUYS 35.1 MILLION SHARES IN URBAN COMPANY VIA BULK DEAL - NSE DATA

Further company coverage: URBN.NS

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Jan 23 (Reuters) - Urban Company Ltd URBN.NS:

• URBAN COMPANY - SEES ADJUSTED EBITDA LOSSES TO PERSIST IN NEAR TERM AS INVESTMENTS IN INSTAHELP CONTINUE

• URBAN COMPANY - EXPECTS CONSOL BUSINESS TO REMAIN LOSS MAKING FOR NEXT FEW QUARTERS

• URBAN COMPANY - AIMS FOR ADJUSTED EBITDA OF 10 BILLION RUPEES FOR CONSOL BUSINESS IN FY31

Source text: ID:nBSE3wt9DX

Further company coverage: URBN.NS

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** Shares of Urban Company URBN.NS drop as much as 5.8% to record low of 121.4 rupees

** Dip as ~41.4 million shares representing 2.9% stake of online home services provider became available for trading after pre-listing shareholder lock-in lifts

** More than 9.4 million shares traded, 1.9x the 30-day avg volume

** Stock down 38% from its peak of 201.18 rupees hit in late September

(Reporting by Nandan Mandayam in Bengaluru)

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Sept 29 (Reuters) - Urban Company Ltd URBN.NS:

• RECEIVES NOTICE FOR 513 MILLION RUPEES TAX

Source text: ID:nBSE7lhYt1

Further company coverage: URBN.NS

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Updates at close

By Manvi Pant

Sept 17 (Reuters) - Urban Company's URBN.NS shares surged 74% in their trading debut on Wednesday, notching a $3 billion valuation, after one of 2025’s most-heavily subscribed IPOs signalled investor confidence in its dominance of India’s emerging home-services sector.

Among the biggest IPOs so far in 2025 - including HDB Financial , Hexaware Tech HEXW.NS and Ather Energy ATHR.NS - Urban Company's offering was the most subscribed at 103.65 times. It garnered bids worth about $13 billion.

Its listing comes at a time when India’s IPO market - world's second biggest - has gained momentum after a slow start to 2025. It is expected to notch record fundraisings this year after raising $7.78 billion in 2024, Reuters reported earlier this month.

Moreover, the country’s online on-demand services market is projected to grow at a compound annual growth rate of 22.4% from 2023 to 2030, according to Grand View Research.

Analysts said investor enthusiasm reflects Urban Company’s dominance of India’s largely unorganised home-services sector, where it faces limited competition from smaller regional and offline providers.

"Investor excitement stems from viewing this (Urban Company) as a structural long-term play on digital adoption and a proxy for the rising demand in home services," said Aishvarya Dadheech, founder of Fident Asset Management.

Urban Company's stock opened at 57.5% premium on its issue price, surpassing expectations of two analysts who had predicted a 40%-51% upside. It hit day's high at 179 rupees and ended the session 62% higher at 166.8 rupees.

The listing also tracked upbeat sentiment in broader Indian equities, supported by optimism over U.S.-India trade talks. The blue-chip Nifty 50 .NSEI has risen 7% so far in 2025 but is still about 4% lower from the record levels notched about a year ago. It ended about 0.36% higher on the day. .BO

($1 = 87.7325 Indian rupees)

(Reporting by Manvi Pant; Editing by Harikrishnan Nair)

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