As Urban Company prepares for its Initial Public Offering (IPO), a glimpse into the remuneration of its top executives reveals that the three founders, Abhiraj Singh Bhal, Raghav Chandra, and Varun Khaitan, each received ₹1.45 crore in fiscal year 2025. This information is detailed in the Draft Red Herring Prospectus (DRHP) filed by the Gurugram-based company with the Securities and Exchange Board of India (SEBI).
Abhiraj Singh Bhal, who holds the position of Chairperson, Managing Director, and Chief Executive Officer, is entitled to a fixed annual remuneration of ₹2 crore. His tenure as Managing Director is set to continue until 2030. Raghav Chandra, the Executive Director and Chief Technology and Product Officer, and Varun Khaitan, the Executive Director and Chief Operating Officer, are also entitled to a fixed remuneration of ₹2 crore per annum. Chandra oversees product technology, design, and automation, while Khaitan is responsible for business operations across India and international markets.
The DRHP also reveals the compensation of other key executives. Chief Financial Officer Abhay Krishna Mathur received an aggregate compensation of ₹2.15 crore in FY25. Chief Business Officer Mukund Kulashekaran’s compensation stood at ₹1.77 crore for the same period.
Urban Company’s IPO aims to raise ₹1,900 crore, consisting of a fresh issue of ₹429 crore and an offer for sale of ₹1,471 crore. The company plans to allocate ₹190 crore for new technology development and cloud infrastructure, ₹70 crore for lease payments for office spaces, and ₹80 crore for marketing initiatives. The remaining funds are earmarked for general corporate purposes.
The IPO is expected to draw significant investor interest, given Urban Company’s position as a leading online marketplace for home and beauty services. The company operates in 59 cities, including 48 in India, as well as in the UAE, Singapore, and Saudi Arabia.
Key Highlights:
- Urban Company founders Abhiraj Singh Bhal, Raghav Chandra, and Varun Khaitan each received ₹1.45 crore in FY25.
- The company’s CFO, Abhay Krishna Mathur, received ₹2.15 crore, and CBO Mukund Kulashekaran received ₹1.77 crore.
- Urban Company’s IPO aims to raise ₹1,900 crore.
- The company will allocate funds towards technology, infrastructure, lease payments and marketing.