Prosus Doubles Stake in India’s Urban Ahead of IPO (1)

Prosus NV, known for its massive stake in Tencent Holdings Ltd., said it more than doubled its stake in Urban Co. ahead of the Indian startup’s listing, and is now one of the firm’s biggest shareholders.

The Amsterdam-based technology group now owns 7.35% of Urban after adding about 4% in the latest deal, Prosus India Ecosystem head Ashutosh Sharma said in an interview. Prosus has invested $139 million in the company, which has been in operation since 2021 and offers services from carpentry to house cleaning and masseurs, Sharma said.

Urban surged as much as 74% in its ...