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Urban Company IPO: Urban Company shares made a stellar debut on Wednesday, September 17, listing at a premium of over 57 per cent to its issue price after the IPO drew massive investor interest.

The Rs 1,900-crore initial public offering (IPO) of the app-based beauty and home-services platform was subscribed 103.63 times between September 10 and 12 in the primary market. Shares opened at Rs 162.25 apiece on the NSE, a 57.52 per cent premium to the issue price of Rs 103, while on the BSE they debuted at Rs 161, up 56.31 per cent.

The company had set a price band of Rs 98–103 per share for the IPO. Its market capitalisation post listing stood at Rs 23,118.02 crore. Ahead of the issue, the company had raised over Rs 854 crore from anchor investors.

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Urban Company, one of India’s largest home-services marketplaces, plans to deploy the IPO proceeds toward expanding its technology platform and service network. The successful issue positions it as one of the most closely watched consumer-tech listings of the year.

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Senior Sub-editor at Zee Business English

shweta.shukla@India.com

Shweta Birendra Shukla is a journalist covering the stock market and corporate affairs, with prior stints at Business ...LATEST NEWSBy accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.