India, April 30 -- Urban Company Founders' INR 779 Cr Payday

The founders of IPO-bound Urban Company are rolling in cash. The three cofounders - Abhiraj Bhal, Varun Khaitan, and Raghav Chandra - cumulatively sold shares worth INR 779 Cr ahead of the company filing its DRHP. However, the trio still jointly hold a 20.1% stake in the company.

Not just the founders, backers Bessemer, Accel and Tiger Global have exited partially, cumulatively selling shares worth INR 615 Cr in the run-up to the IPO.

Buyers Made A Beeline: The shares were lapped up by existing backers Prosus Ventures, Dharana Capital, Think Investments, and others. Besides, Swiggy cofounder and Group CEO Sriharsha Majety acquired Urban Company shares worth INR 88 Lakh.

IPO ...