Urban Company starts shutting Saudi subsidiary amid rising losses

Urban Company is shutting down its Saudi Arabia subsidiary after continued losses. The unit's pre-tax loss rose 182% to ₹23.4 crore in 9M FY25. It will now operate in Saudi via a joint venture. The company faces service staff shortages abroad and has filed for a ₹1,900 crore IPO. Founders won’t sell shares in the offer-for-sale round.