Urban Company IPO Subscribed Over 100 Times On Day Three — Check GMP, Other Details
Urban Company will list on the stock market on Sept. 17.
Urban Company Ltd.'s initial public offering was oversubscribed over a 100 times on the third day of subscription on Friday. It was subscribed nine times on Thursday. The portion for retail investors was fully booked within an hour of launch.
The total offer is worth Rs 1,900 crore that comprises a fresh issue of 4.58 crore shares amounting to Rs 472 crore, and an offer-for-sale of 13.86 crore shares worth Rs 1,428 crore. The price band is set between Rs 98 and Rs 103 per share.
The IPO will close on Sept. 12. The allotment of shares is proposed to be finalised on Sept. 15. The company will transfer shares to the demat accounts of successful bidders on Sept. 16 and refunds for non-allottees will be done on the same day.
Urban Company will list on the stock market on Sept. 17. Kotak Mahindra Capital Company Ltd., Morgan Stanley India Company Private Ltd, Goldman Sachs (India) Securities Private Ltd, and JM Financial Ltd. are the book running lead manager and MUFG Intime India Ltd. is the registrar of the issue.
Urban Company IPO Details
Open date: Sept 10
Close date: Sept 12
Allotment date: Sept. 15
Listing date: Sept 17
IPO size: Rs 1,900 crore
Fresh issue: 4.58 crore shares
OFS: 13.86 crore shares
Minimum bid: Lot size of 145 shares
About Urban Company
Urban Company runs an online marketplace that provides various home and beauty services. Using the platform, consumers can book services such as plumbing and beauty treatment.
The company's business model is built around gig workers, barbers, electricians, beauticians, and technicians, largely unskilled or semi-skilled labour.
Urban Company IPO Day 3 Subscription Status
Urban Company IPO was subscribed 103.63 times on Friday.
Qualified Institutions: 140.20 times.
Non-Institutional Buyers: 74.04 times.
Retail Investors: 39.25 times.
Portion reserved for employees: 36.79 times.
Urban Company IPO GMP
The grey market premium of Urban Company was at Rs 54 as of 07:55 p.m. on InvestorGain. The GMP price indicated 52.43% listing gain as indicated by the implied listing price of Rs 157.
