Urban Company IPO continues to see strong subscription on the Day 2 of initial share sale by the app-based beauty and home services platform.
The Rs 1,900-crore issue got fully subscribed hours after opening for bidding on Wednesday and later concluded the day with 3.13 times subscription.
On Thursday, the IPO received bids for over 61-crore crore shares against 10.67 crore shares on offer, translating into 5.71 times subscription, as per NSE data till 12:45 p.m.
Retail Individual Investors (RIIs) part got subscribed 12.63 times, and the non-institutional investors portion received 9.85 times subscription. The Qualified Institutional Buyers (QIBs) category fetched 1.32 times subscription. Earlier, it raised Rs 854 crore from anchor investors.
Urban Company IPO GMP Today Price
According to platforms tracking the grey market activities, the shares of Urban Company are commanding a GMP of nearly 38 percent in the unregulated market. Investorgain quoted a GMP of Rs 39 for the shares of the company, indicating a listing gain of 37.86 percent.
The IPO will conclude for subscription on September 12. It has a price band of Rs 98-103 per share. At the upper end of the price band, the company's valuation is pegged at Rs 14,790 crore.
The company plans to use funds raised through the fresh issuance for new technology development and cloud infrastructure, lease payments for its offices, marketing activities, and general corporate purposes.
Urban Company IPO 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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