India, April 10 -- In the run up to its public listing, Urban Company's board has approved raising up to INR 528 Cr (about $60 Mn) via a fresh issue in its IPO. The startup's public issue will also comprise an undisclosed amount of offer-for-sale component.

According to the startup's MCA filing, the board gave its nod for the IPO on March 7. The decision would be subject to the approval of the members of the company.

"The equity shares are proposed to be listed on the BSE, the NSE, and any other stock exchange as determined by the board at its absolute discretion and the company will be required to enter into listing agreements with each of the stock exchanges," the filing read.

The board meeting came a month after it was reported that...