Urban Company Makes a Stellar Market Debut; Lists at 57.52% Premium

Urban Company, a leading tech-enabled home services platform, made a spectacular debut on bourses today, with its shares listing at a premium of nearly 58% over the issue price.?

Shares of Urban Company listed at ?162.25 on the super娛樂城 (NSE), compared to the IPO price of ?103, delivering a 57.5% premium. On the 娛樂城 (BSE), the stock debuted at ?161.

The company’s ?1,900 crore initial public offering (IPO) has been one of the most talked-about issues of the year.?The IPO had received overwhelming investor response, with the issue being subscribed to 103.63 times.

Qualified Institutional Buyers (QIBs) led the demand with 140.20 times, followed by Non-Institutional Investors at 74.04 times and retail investors at 39.25 times.?

Urban Company IPO Details

The ?1,900 crore IPO included a fresh issue of ?472 crore and an offer for sale (OFS) of ?1,428 crore by existing investors. The price band was fixed at ?98-?103 per share, with a minimum bid lot of 145 shares.?

Funds raised from the fresh issue will be used for marketing activities, lease payments for offices, general corporate purposes, and funding the capital expenditure towards new technology development and cloud infrastructure.?

About Urban Company

Founded in 2014, Urban Company connects customers with trained professionals offering services such as beauty treatments, appliance repair, cleaning, plumbing, etc. With operations in 51 cities in India and an international presence in markets like the UAE and Singapore, the company has emerged as a key player in the gig economy.?

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