Urban Company IPO, which saw immense investor participation, has finalised with the allotment formalities and now moves towards the listing that will take place tomorrow, September 17.
According to NSE, the Rs 1,900-crore IPO of the app-based beauty and home services platform was subscribed 103.63 times on the last day of the bidding. Regarding the investments, retail investors subscribed 39.25 times, Non-Institutional Investors (NIIs) subscribed 74.04 times and Qualified Institutional Buyers (QIBs), who bid 140.2 times.
Several media reported that the shares were trading at a 50 per cent premium in the grey market, hinting at potential listing gains around the same range. However, the official listing price can vary based on the actual market conditions.
The services aggregator fixed the IPO price band at Rs 98 to Rs 103 per equity share for listing on the BSE and the NSE.
Urban Company operates a technology-driven, full-stack online marketplace for quality-driven services and solutions across various home and beauty categories. Apart from India, it has a presence in the UAE, Singapore, and the Kingdom of Saudi Arabia.
Its platform enables consumers to easily order services, including cleaning, pest control, electrical work, plumbing, carpentry, appliance servicing and repair, painting, skincare, hair grooming, and massage therapy.