Urban Company IPO subscribed 3 times on Day 1 - Check GMP, other details

Urban Company IPO sees robust subscription in primary market.

Urban Company IPO witnessed robust subscription on the first day of share sale in the primary market.

The issue was fully subscribed withing two hours on Day 1 of the issue. The Rs 1,900-crore IPO got bids for 33.37-crore shares against 10.67-crore shares on offer, as per NSE data. The investors can bid for one lot of 145 shares and then in multiples of 145 thereafter.

The portion for non-institutional investors garnered 4.16 times subscription. The category for retail individual investors got subscribed 7 times and qualified institutional buyers part received 1.31 times.

Earlier, the app-based beauty and home services platform, on Tuesday raised Rs 854 crore from anchor investors, a day before its initial share-sale opening for public subscription.

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The issue opened for subscription on September 10 and will conclude on September 12 in the price band of Rs 98 to Rs 103 per share. At the upper end of the price band, the company's valuation is pegged at Rs 14,790 crore.

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The Gurugram-based company plans to raise Rs 472 crore through selling new shares, and existing investors plan to sell stakes worth Rs 1,428 crore.

Urban Company IPO share allotment is expected to be finalised by September 15, and listing is scheduled for September 17 on the BSE and NSE.

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