Urban Company IPO subscribed 83% on Day 1; retail bids lead early demand

Urban Company IPO: The Rs 1,900-crore Urban Company IPO opened to a strong response in the primary market on Wednesday, with the issue being subscribed 83 per cent by 11:30 a.m. on Day 1 of the three-day bidding window.

According to data from the National Stock Exchange (NSE), the offer received 8.85 crore bids against 10.67 crore shares on offer.

The IPO, which opened for subscription on September 10, will close on September 12, with a price band set at Rs 98 to Rs 103 per share. At the upper end of the price band, the Gurugram-based app-based home and beauty services provider is valued at around Rs 14,790 crore.

Urban Company IPO: Investor Response by Category

Retail Individual Investors (RIIs): 2.45 times subscribed

Non-Institutional Investors (NIIs): Fully subscribed (1.0x)

Qualified Institutional Buyers (QIBs): 20 per cent subscription

Investors can bid for a minimum of 145 equity shares per lot, and in multiples thereof.

Anchor Investment and Offer Structure

Ahead of the IPO, Urban Company raised Rs 854 crore from anchor investors on September 9, indicating strong institutional interest. The total issue size includes a fresh issue of Rs 472 crore, while existing shareholders will offload shares worth Rs 1,428 crore through the offer for sale (OFS).

Listing and Allotment Timeline

Urban Company IPO allotment date: Expected by September 15

Listing date: Tentatively set for September 17 on the BSE and NSE

About Urban Company

Founded in 2014 and headquartered in Gurugram, Urban Company offers on-demand beauty, wellness, and home repair services via its mobile app. The company operates across several Indian cities and has expanded to international markets including the UAE, Singapore, and Saudi Arabia.