Urban Company IPO GMP declines marginally as investors await share allotment tonight - Check details

Urban Company IPO allotment is likely to be finalised on September 15. 

Urban Company shares witnessed a marginal decline on Monday in the grey market as investors awaited the finalisation of share allotment for the company’s initial public offering (IPO).

The Rs 1,900-crore IPO, which was open for subscription from September 10 to 12, received strong demand with bids subscribed 104 times. The allotment is expected to be finalised later tonight.

The company, which operates an app-based beauty and home services platform, had fixed a price band of Rs 98-103 per share. Ahead of the issue, it mobilised Rs 854 crore from anchor investors.

According to platforms tracking unlisted market activity, Urban Company shares are quoting at a grey market premium (GMP) of around 52 percent. Data from Investorgain showed the shares trading at a GMP of Rs 54, implying a potential listing gain of 52.43 percent.

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On September 12, the shares commanded a GMP of around 54 percent. The premium rose to 66 percent between September 13 and 14 but has now eased to around 52 percent.

Applicants can check their allotment status on the website of the registrar, MUFG Intime India Pvt Ltd (formerly Link Intime India Pvt Ltd), using their application number or PAN. The status will also be available on the BSE and NSE portals.

Urban Company IPO allotment: How to check status on registrar, BSE and NSE; check latest GMP

Akhilesh Desai, Research Analyst at Ajcon Global Services Ltd, said, "Strong demand has led to a GMP of approximately 60 percent, implying significant listing gains. We expect a solid debut, and while values are high, they are supported by growth and profitability. Short-term investors may book partial gains on listing, while long-term investors can hold for continued growth."

The company’s shares are scheduled to be listed on the NSE and BSE on September 17.

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