Urban Company IPO GMP Today: At-Home Service Provider’s Public Issue Sees Sustains Demand On Third Day of Bidding

The initial public offering (IPO) of Urban Company is scheduled to close on September 12. Investors across categories have booked the IPO more than 13 times within the three days of bidding.

Urban Company IPO GMP

The grey market premium (GMP) of Urban Company IPO jumped on the final day of bidding, with the premium ranging between Rs 43 and Rs 44 on September 12, according to several websites which track the movement of unlisted shares. Given the GMP of Rs 44, Urban Company shares are likely to make a strong debut with a premium of 42.7 per cent at Rs 147 per share.

Urban Company IPO: Subscription On Day 3

The IPO has received bids for over 1.4 billion shares so far against the 106.77 million shares offered for subscription, leading to the issue being subscribed 13.3 times. Non-institutional investors (NIIs) are driving the demand, as the issue has been booked 30.76 times in the NII category so far. NIIs have placed bids for 893.30 million shares against the 29.04 million shares reserved for subscription.

The IPO has been booked 22.47 times by retail individual investors (RIIs). So, far, they have placed bids for 429.40 million shares compared to the 19.36 million shares reserved for the retail category.

Qualified institutional buyers (QIBs) have applied for 93.03 million shares of the service aggregator so far on the last day of bidding against the 58.08 million shares reserved for the category, booking the issue 1.60 times.

Employees of the company applied for 4.69 million shares compared to the 280,000 shares offered for subscription, leading to the issue being booked 16.72 times so far.

Urban Company IPO Issue Size

Urban Company IPO is worth Rs 1,900 crore. The public issue consists of a fresh issuance of 45.80 million shares which aggregates to Rs 472 crore and an offer-for-sale (OFS) component of 138.60 million shares aggregating to Rs 1,428.00 crore. The price band was set at Rs 98-103 per share. RIIs can bid for the IPO by placing bids for a minimum of 145 shares, which aggregates to an investment of Rs 14,935.

Urban Company IPO: Subscription Dates and Listing Date

Urban Company IPO opened for subscription on September 10 and is scheduled to close on September 12. The share allotment status will be announced on September 15. Subsequently, the company will issue refunds for unsuccessful applicants on September 16, while the shares are likely to be listed on the bourses on September 17.

Urban Company: Financials

The company’s total income for FY25 was Rs 1,260.68 crore, up by nearly 36 per cent from Rs 927.99 crore in FY24. The service aggregator’s profit-after-tax (PAT) stood at Rs 239.77 crore in FY25 compared to net loss of Rs 92.77 crore in the preceding fiscal.

Urban Company IPO: Registrar

Urban Company IPO’s book running lead manager is Kotak Mahindra Capital and the registrar for the issue is MUFG Intime India

Urban Company: Promoters

Abhiraj Singh Bhal, Raghav Chandra and Varun Khaitan are among the promoters of Urban Company. Prior to the issue, the three promoters held 21.09 per cent stake in the company. Once the issue concludes, their shareholding will decline to 20.4 per cent.

Urban Company IPO: Objective

Urban Company plans to use the money generated from the public issue for several expenses, such as the acquisition of new technology development and cloud infrastructure, lease payments for offices, expenditure towards marketing activities and general corporate purposes.

About Urban Company

Urban Company was incorporated in December 2014. The company operates as a full-stack online marketplace and has presence across 51 cities.