India’s startup and manufacturing sectors are making global headlines this week, with two major developments signaling the country’s growing economic clout. Urban Company, the leading home services platform, has successfully launched its ₹1,900 crore initial public offering (IPO), while Apple has confirmed that its upcoming iPhone 17 series will be manufactured in India, marking a significant shift in global supply chain dynamics.
These twin milestones reflect India’s emergence as a hub for both digital innovation and high-end manufacturing, with implications for investors, consumers, and global tech giants.
Urban Company IPO Oversubscribed on Day One
Urban Company’s IPO opened to a resounding response, with the issue fully subscribed within hours. By the end of Day 1, the offering was oversubscribed 3.13 times, driven by strong interest across investor categories. Retail investors led the charge, subscribing 7 times over, while non-institutional investors came in at 4.16 times and qualified institutional buyers at 1.31 times.
Ahead of the IPO, Urban Company raised ₹854 crore through its anchor book, attracting 59 institutional investors including SBI Mutual Fund, ICICI Prudential, Nippon India, HDFC MF, and Aditya Birla Sun Life. Shares were priced at ₹103 each, at the top end of the price band.
| Investor Category | Subscription Rate |
|---|---|
| Retail Investors | 7.00x |
| Non-Institutional Investors | 4.16x |
| Qualified Institutional | 1.31x |
| Employees | 5.79x |
| Overall | 3.13x |
The IPO comprises a fresh issue of ₹472 crore and an offer for sale worth ₹1,428 crore by early investors including Accel, Tiger Global, Vy Capital, and Bessemer Venture Partners. Shares are slated to list on September 17.
Urban Company, recently crowned “Startup of the Year” at The Economic Times Startup Awards 2025, has built a robust business model around tech-enabled home services. With operations in over 50 cities and a growing international footprint, the company is now poised to scale further with public market backing.
Apple’s iPhone 17 to Be Manufactured in India
In a parallel development, Apple has confirmed that its iPhone 17 series—including the base model, iPhone 17 Pro, and the ultra-slim iPhone Air—will be manufactured in India and made available globally on day one of sales. This marks a historic shift from Apple’s previous strategy, where initial production was centered in China.
India now hosts five major iPhone manufacturing facilities operated by Foxconn, Tata Electronics, and Pegatron. Foxconn’s 300-acre plant near Bengaluru has emerged as the largest iPhone factory in the country, employing over 25,000 workers, most of them young women trained specifically for iPhone assembly.
| Factory Location | Operator | iPhone Model Produced | Workforce Size |
|---|---|---|---|
| Bengaluru (Devanahalli) | Foxconn | iPhone 17 Pro, iPhone Air | 25,000+ |
| Sriperumbudur, Tamil Nadu | Foxconn | iPhone Air | 10,000+ |
| Hosur, Tamil Nadu | Tata Electronics | iPhone 17 base model | 8,000+ |
| Narsapura, Karnataka | Tata Electronics | iPhone 17 base model | 6,000+ |
| Tamil Nadu (Pegatron) | Tata Pegatron | iPhone 17 base model | 5,000+ |
India now accounts for nearly 20% of global iPhone production, with exports surging 52% year-on-year to $22.56 billion in the first half of 2025. For the first time, Made-in-India iPhones are available globally on launch day, a milestone that underscores Apple’s confidence in India’s manufacturing capabilities.
Strategic Implications for India’s Economy
These developments are more than just corporate milestones—they represent a broader shift in India’s economic trajectory. Urban Company’s IPO success highlights the maturity of India’s startup ecosystem, while Apple’s manufacturing pivot signals the country’s rise as a global production powerhouse.
Together, they reinforce India’s positioning as a dual engine of innovation and industrial scale.
| Sector | Key Milestone | Economic Impact |
|---|---|---|
| Startups | Urban Company IPO success | Boost to investor confidence, liquidity |
| Manufacturing | iPhone 17 Made in India | Job creation, export growth |
| Technology | Apple’s supply chain shift | Global recognition of India’s capabilities |
| Retail | Increased iPhone availability | Enhanced consumer access |
Investor Sentiment and Market Outlook
The success of Urban Company’s IPO and Apple’s manufacturing expansion have injected fresh optimism into Indian equity markets. Analysts expect increased foreign institutional participation, especially in tech and consumer sectors.
Urban Company’s listing is likely to set a benchmark for other tech startups eyeing public markets. Meanwhile, Apple’s move could encourage other global giants to consider India as a primary manufacturing base, especially amid geopolitical tensions and supply chain diversification efforts.
Challenges and Opportunities Ahead
While the outlook is positive, both companies face challenges. Urban Company must maintain service quality and scale efficiently post-IPO. Apple, on the other hand, must ensure consistent output and quality across its Indian facilities, especially as demand surges in the U.S. and Europe.
However, the opportunities far outweigh the risks. India’s skilled labor force, improving infrastructure, and supportive policy environment make it an attractive destination for both tech innovation and high-end manufacturing.
Conclusion
Urban Company’s IPO and Apple’s decision to build the iPhone 17 in India are defining moments in the country’s economic evolution. They reflect the confidence global investors and corporations have in India’s capabilities, and signal a future where Indian startups and factories play a central role in shaping global markets.
As India continues to rise, these stories will serve as milestones in its journey toward becoming a global economic leader.
Disclaimer: This article is based on publicly available information and corporate announcements. All financial figures and projections are subject to change based on market conditions and regulatory updates. Readers are advised to consult official filings and disclosures for verified details.
