Urban Company IPO Day 3 Live: The initial public offering of Urban Company Ltd, which is a platform for beauty and home services accessible via an app, achieved a subscription rate of 9 times by the second day of bidding on Thursday.
The segment for non-institutional investors was oversubscribed by 18.22 times, while Retail Individual Investors (RIIs) saw a subscription rate of 17.68 times. The portion allocated to Qualified Institutional Buyers (QIBs) attracted a subscription rate of 1.48 times.
Urban Company IPO GMP today is ₹43. This indicates Urban Company share price were trading at a premium of ₹43 in the grey market today, according to investorgain.com.
Urban Company IPO was completely subscribed just a few hours after the bidding process commenced on Wednesday, concluding the day with a subscription rate of 3.13 times.
On Tuesday, Urban Company secured ₹854 crore from its anchor investors. Urban Company IPO, valued at ₹1,900 crore, is available for subscription until September 12, with a Urban Company IPO price band is set between ₹98 and ₹103 per share.
Urban Company operates a comprehensive online marketplace driven by technology, offering quality-focused services and solutions across various categories related to home and beauty. Beyond India, it is also available in the United Arab Emirates, Singapore, and the Kingdom of Saudi Arabia.
The lead managers for this issue are Kotak Mahindra Capital Company, Morgan Stanley India Company, Goldman Sachs (India) Securities, and JM Financial.
(Stay tuned for more updates)
