Urban Company IPO GMP rose on Monday, ahead of the issue opening on September 10.
According to websites tracking unofficial trading, the shares of Urban Company were quoting at a premium of Rs 28-30 in the grey market, indicating possible listing gains of nearly 30 percent.
Urban Company’s Rs 1,900-crore initial public offering (IPO), with a price band of Rs 98-103 per share, will close on September 12. At the upper end of the band, the Gurugram-based firm is valued at Rs 14,790 crore.
The offer comprises a fresh issue of equity shares worth Rs 472 crore and an offer for sale (OFS) of Rs 1,428 crore by existing shareholders. Investors selling stakes under the OFS include Accel India, Elevation Capital, Bessemer India Capital Holdings II Ltd, Internet Fund V Pte. Ltd and VYC11 Ltd.
Urban Company, an app-based marketplace for beauty and home services, has operations in India as well as in the UAE, Singapore and Saudi Arabia.
The 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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