Prosus, led by South African billionaire Koos Bekker, puts $139 million into Indian firm before IPO

Prosus N.V., the global consumer internet group chaired by South African billionaire Koos Bekker, has invested about $139 million to raise its stake in Urban Company to 7.35 percent ahead of the Indian home-services provider’s stock market debut. This makes Prosus one of Urban’s largest backers as the company prepares to test investor appetite in public markets.

Urban’s stock market debut

Urban Company, founded in 2014 as UrbanClap, runs an online marketplace that connects households with services ranging from plumbing and carpentry to beauty care and spa treatments. The Gurugram-based firm now operates in 51 cities across India, the UAE and Singapore, reflecting its push to expand beyond its core base.

Its initial public offering, worth $1.8 billion, was one of India’s most anticipated listings this year. The deal drew strong demand, oversubscribed more than 100 times. Shares climbed as much as 74 percent in their Mumbai debut last week, briefly valuing the firm at nearly $2.8 billion. 

Ashutosh Sharma, who currently leads the lifestyle ecosystem for Prosus in India highlighted in a recent interview about the high demand for Urban Company, He said: “We wanted more allocation and could not get a lot more.”

India’s consumer economy in focus

The move extends Prosus’s participation in India’s IPO wave. The Amsterdam-listed group has invested nearly $9 billion in Indian startups, including e-commerce platform Meesho and education-technology giant Byju’s. Executives say India remains central to their strategy, pointing to the expansion of the country’s middle class and its appetite for consumer services delivered online.

Urban itself has delivered results. It turned profitable in the year ended March 2025, with net income of over $27 million, helped in part by tax credits. Its gross booking value has doubled over the past two years, highlighting its scale in a home-services market that remains largely unorganized.

Prosus’s wider approach

Prosus was created in 1997 as part of South Africa’s Naspers, where Bekker also serves as chair. It has since become one of the world’s largest technology investors, holding stakes across fintech, e-commerce, food delivery, education and social platforms. Bekker personally owns a 0.84 percent stake in Prosus, currently valued at €878.5 million ($1.04 billion).

Listed in Amsterdam since 2019, Prosus has reshaped its portfolio in recent years, including through share buybacks and reallocations toward faster-growing holdings. The investment in Urban Company fits that pattern—backing a profitable Indian platform in a sector still early in its shift online, while linking Prosus to one of Asia’s standout IPOs this year.