Urban Company IPO: Check Listing Date And Latest GMP Ahead Of Market Debut This Week
The allotment status for the Urban Company IPO was finalised on Monday, September 15. Check the expected listing price based on the latest grey market preium for the mainboard issue.
The share allotment status for the Urban Company IPO was finalised on September 15. Successful bidders can expect the shares to be credited to their demat accounts on September 16. Those who did not receive an allotment will likely receive refunds on the same day. You can verify the Urban Company IPO share allotment status on the websites of NSE or BSE and MUFG Intime India Pvt Ltd, the official registrar's website.
The Rs 1,900-crore initial public offering of Urban Company Ltd. was oversubscribed 109 times on its final day of bidding on September 12.
Shares of Urban Company Ltd. are set to be listed on the BSE and NSE on September 17. Ahead of its market debut, the stock is trading at a premium in the grey market, signalling potential for strong listing gains for IPO investors.
Urban Company IPO GMP Today
The grey market premium (GMP) for the Urban Company IPO was Rs 52 on September 16. Based on the upper end of the price band of Rs 103, the IPO’s estimated listing price stands at Rs 155 per share. The latest GMP indicates a potential gain of around 50.49% per share.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
Urban Company IPO: Key Details
The mainboard IPO was a book-building issue worth Rs 1,900 crore. It comprised a fresh issuance of 4.58 crore shares, worth Rs 472 crore, and an offer-for-sale (OFS) of 13.86 crore shares, amounting to Rs 1,428 crore.
The price band for the issue ranged between Rs 98 and Rs 103 per share.
Retail investors were allowed to bid for at least a single lot size comprising 145 shares, amounting to a minimum investment of Rs 14,935. The small Non-Institutional Investors (NIIs) were required to bid for 14 lots, aggregating to Rs 2,09,090, while the big NIIs were required to apply for at least 67 lots, leading to an investment of Rs 10,00,645.
Use Of Proceeds
A portion of the funds will be utilised for developing new technology and improving cloud infrastructure. The company plans to allocate some of the IPO funds to cover lease payments for office spaces. Urban Company also plans to spend a portion of the funds on marketing activities and general corporate purposes.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
