By Team Bl

Copyright thehindubusinessline

Urban’s IPO has raised optimism its success will rub off on other Indian startups. A slew of companies — from eyewear retailer Lenskart Solutions Ltd. to e-commerce retailer Meesho Ltd. and Walmart Inc.-backed PhonePe are preparing to list their shares.

Urban’s offering saw strong participation from both institutional and retail investors. The deal included the sale of new and existing shares.

Thanks to India’s abundance of cheap labor, Urban allows users to book many types of service professionals — from hair dressers to fumigators and plumbers — at competitive prices and fast.

Bloomberg input