The issue received bids for 243.39 crore shares as against 10.67 crore shares on offer, according to data available as of 12:30 pm.
Retail Individual Investors (RIIs) showed strong interest, subscribing 27.38 times the portion allocated to them. Non-Institutional Investors (NIIs) subscribed 43.95 times their reserved quota, while qualified institutional buyers (QIBs) booked their portion 10.69 times.
The Gurugram-based company is selling its shares in a fixed price band of ₹98-103. Investors can apply for a minimum of 145 shares and in multiples thereafter. At the upper price band, Urban Company is valued at ₹14,790 crore.
In the unlisted market, shares of Urban Company are quoting a premium of ₹45 today, indicating a listing gain of nearly 44% over the issue price.
Shares start trading in the grey market before the allotment in the IPO and continue till the listing day. Most investors track the grey market premium (GMP) to get an idea of the listing price.
The IPO includes a fresh issue of equity shares worth ₹472 crore and an offer for sale (OFS) of ₹1,428 crore by existing investors.
Key shareholders offloading stakes under the OFS include Accel India, Elevation Capital, Bessemer India Capital Holdings II Ltd, Internet Fund V Pte. Ltd, and VYC11 Ltd.
The listing will provide partial exits to early backers such as Accel India, Elevation Capital, and Tiger Global.
Proceeds from the fresh issue will be used for marketing initiatives and technology upgrades, according to the company’s prospectus.
Urban Company is a technology driven, full-stack online services marketplace for quality driven solutions and services in 51 cities across India, United Arab Emirates (UAE) and Singapore. The market of Saudi Arabia is served through a JV.
The company’s platform enables customers to easily order services like cleaning, pest control, electrician, plumbing, carpentry, appliance servicing and repair, on demand home-help assistance, painting, skincare, hair grooming, massage therapy, etc which are delivered by trained and independent service professionals.
Kotak Mahindra Capital Company, Morgan Stanley India Company, Goldman Sachs (India) Securities, and JM Financial are the book-running lead managers, while MUFG Intime India is the registrar to the issue.
The IPO allotment is likely to be finalised on September 15, with tentative listing on BSE and NSE scheduled for September 17, 2025.
