Urban Company IPO Sees Strong Retail Investor Demand on Day 1

The ₹1,900-crore initial public offering of Urban Company Ltd, an app-based beauty and home services platform, was fully subscribed within hours of opening for bidding. Retail investors drove the demand, with the reserved quota oversubscribed seven times. The IPO, priced between ₹98-103 per share, will close on September 12.

Bids poured in for 3.13 times the offered shares, totaling 33.38 crore against 10.67 crore available. Qualified institutional buyers subscribed 1.31 times, while non-institutional investors bid for 4.16 times their allotted portion. Employees showed strong interest, oversubscribing their reserved shares by 5.79 times.

Proceeds from the fresh issue of ₹472 crore will fund technology development and expansion. Existing investors including Accel India and Elevation Capital are offering shares worth ₹1,428 crore through the offer-for-sale route.