India, Oct. 16 -- Urban Company's board today approved a proposal to raise up to Rs.2,500 Cr, alongside approving its financial performance for the September quarter. The proposed funding could involve issuance of equity shares, warrants, fully convertible debentures and convertible preference shares.

The fundraise will be executed in one or more tranches via preferential allotment, private placement or one or more qualified institutional placements (QIPs), subject to shareholder approval. The final issue pricing and structure is yet to be determined.

"The business is materially larger than at listing, growth has stepped up, and we now operate three businesses at scale with proven economics. The proposed raise of up to Rs.2,500 Cr is ab...