Home services platform Urban Company's board has approved a proposal to raise Rs 2,500 crore through a qualified institutional placement (QIP), according to a stock exchange filing.
In a letter to shareholders, the Gurugram-based company said it had Rs 1,901 crore in cash as of September 30, while its businesses excluding the InstaHelp segment generated Rs 119 crore in adjusted Ebitda over the past nine months.
