The share price of Urban Company had a significant debut on the Indian stock market. The BSE listed Urban Company's shares at ₹161, while the NSE listed them at ₹162.25.
Urban Company's first public offering: On Wednesday, September 17, the share price of Urban Company had a big debut on the Indian stock market. The shares of Urban Company were listed at ₹161 on the BSE and ₹162.25 on the NSE, which represented a 56% and 57.5% premium, respectively, over the ₹103 issue price.
Analysts and the grey market trend predicted a 40–50% listing pop for Urban Company shares, therefore the listing was better than anticipated. According to investorgain.com, the shares of Urban Company IPO were selling for ₹51 more on the gray market before to listing.
Following the successful IPO, investors were advised to book partial profits by Shivani Nyati, Head of Wealth at Swastika Investmart.
"For individuals who were allotted, think about booking a portion of your profit and keeping the remainder for future gains with a stop loss of 120. Formerly known as UrbanClap, Urban Company is a top tech-enabled home services platform that provides a variety of services, such as cleaning, maintenance, appliance repair, and beauty and wellness. According to Niyati, Urban Company's FY25 revenue of ₹1,144 crore (38% YoY growth) and ₹240 crore marked a substantial recovery from an FY24 loss of ₹93 crore.
Investors from all sectors had expressed a significant desire to participate in the Urban Company IPO. Overall, the issue had 103.63 oversubscriptions. The Non-Institutional Investors (NII) section witnessed 74.04 times subscriptions, compared to 39.25 times for the retail investor portion. With 140.20 times subscriptions, the Qualified Institutional Buyers (QIB) category had the most demand.
Details about the Urban Company's IPO
The initial public offering (IPO) of Urban Company began on Wednesday, September 10 and ended on Friday, September 12. The IPO allocation was finalized on September 16.
Investors responded overwhelmingly to Urban Company's initial public offering (IPO), with subscriptions surpassing 100 times. It is the most heavily subscribed share sale in India this year, according to a Bloomberg report.
The ₹1,900 crore IPO included an offer-for-sale (OFS) of 13.86 crore shares priced at ₹1,428 crore and a new issue of 4.58 crore equity shares valued at ₹472 crore. The initial public offering (IPO) pricing range was set at ₹98 to ₹103 per share.
The book running lead manager is Kotak Mahindra Capital Co. Ltd., and the IPO registrar for Urban Companies is MUFG Intime India Pvt. Ltd.
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