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Urban Company shares have now rallied nearly 77% from its IPO price within three days since market debut.
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The company recently launched its ‘Insta Help’ service, allowing users to book domestic workers within 15 minutes
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Accel is an investor in Urban Company, which made a stellar market debut on September 17 listing with gains of more than 57%
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The Amsterdam-based technology group now owns 7.35% of Urban after adding about 4% in the latest deal
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Spending time in Mumbai and Gujarat to convince HNIs to invest, detailed roadshows, speaking for long and with clarity all helped UC reach here. Where the share lists remains to be seen, but the grey market premium signals a 50 percent jump which should augur well for the firm.
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Urban Company share listing on Wednesday was better than the expectations in the grey market, which had expected around 52 percent listing gains in the secondary market.
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Urban Company Stock Price Latest News Today (September 17): Most experts are advising the investors of Urban Company to 'hold' instead of selling the stocks post listing
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Urban Company IPO which was open for subscription from September 10-12, received an overwhelming response, with 103.63 times bids.
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Urban Company IPO shares are scheduled to be listed on the NSE and BSE on September 17.
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Rs 1,900-crore Urban Company IPO shares will be listed on both NSE and BSE on September 17.
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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
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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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Urban Company's Rs 1,900-crore IPO got bids for 10.81-crore shares against 10.67-crore shares on offer, as per NSE data.
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Urban Company’s Rs 1,900 cr has kicked off for subscription. The price band of the IPO has been fixed in the range of Rs 98 and Rs 103 per share. Its lot size has been fixed at 145 shares, ie investors will have to apply for a minimum 145 shares and in multiple thereof. 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. It has raised Rs 854 cr via the anchor book. Marquee global investors like Citigroup Global, Goldman Sachs, Government of Singapore, Ashoka Whiteoak, Government Pension Fund Global, Nomura, Amundi Funds, Florida Retirement System, Steadview Capital, and Steinberg India became shareholders in the Gurugram-based company by investing via anchor book. SBI Mutual Fund, ICICI Prudential MF, HDFC AMC, Fidelity, Nippon Life, Aditya Birla Sun Life AMC, UTI AMC, SBI Life, ICICI Prudential Insurance Company, Bajaj Allianz Life, Sundaram MF, Abakkus Asset Manager are among the domestic institutional investors who also participated in the anchor book. Catch Abhiraj Singh Bhal, CMD & CEO of Urban Company, in an exclusive conversation with Nandita Khemka on the company’s growth strategy and future roadmap.
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Urban Company raised Rs 854 crore from anchor investors, a day before its initial share-sale opening for public subscription.
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Urban Company IPO | The company aims to raise Rs 1,900 crore via maiden public issue, of which Rs 472 crore will be raised via fresh issue component, while investors - Accel India, Elevation Capital, VY Capital, Bessemer India, and Internet Fund will be selling shares worth Rs 1,428 crore via offer-for-sale.
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Elevation Capital owns 15.9 crore shares purchased at Rs 5.39 each. The investment, originally valued at Rs 85.7 crore, is now worth Rs 1,638 crore — nearly 19 times higher.
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Urban Company 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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'If you assess India from a 10–25 year lens, then tariffs or mid-term geopolitical shifts matter less. Over the long term, if the country keeps growing, there’s plenty of appetite for the areas we invest in,' the head of India ecosystem at Prosus tells Moneycontrol
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The substantial premium in the grey market indicates that investors are willing to pay a significant premium over the IPO's issue price to secure a stake in Urban Company.
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These transactions were largely through secondary share sales where Tiger Global and Accel offloaded shares to each of the new buyers. While SBI MF bought shares worth Rs 250 crore, the largest quantity, the other transactions were significantly big, too.
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At the upper end of the price band, Urban Company's valuation is pegged at Rs 14,790 crore.
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Urban Company IPO GMP: The Rs 1,900-crore IPO will remain open for public bidding from September 10 to September 12 at a price band of Rs 98-103 per share.
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Early backers like Accel, Tiger Global and Elevation Capital are eyeing partial exits as the home services firm readies for market debut.
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Startups like Snabbit, Pronto, and Pync are tapping into rising dual-income households and unpredictable live-in staff availability to meet urban India’s growing need for instant, reliable home services.
