India, Oct. 14 -- UC Taps Public Markets Again for Funds

Urban Company is hungry for more cash. Despite sitting on over hundreds of crores in cash, the consumer services giant's board will convene next week to consider a fresh fundraise. So, why is Urban Company heading back to the public markets less than a year after its IPO?

UC Seeks Fresh Capital: The startup's board will meet on October 16 to consider raising capital through equity shares or convertible securities. Besides this, the board will also take a call on which route to take for the fundraise. But what makes this episode interesting is that UC was sitting on Rs.2,019 Cr in cash and treasury investments at the end of June. Even Rs.310.8 Cr of the startup's Rs.472 Cr fresh is...