Urban Company shares had a strong debut on the Indian stock exchanges on Wednesday, September 17. The stock opened at ₹161 on the BSE and ₹162.25 on the NSE, reflecting a premium of 56% and 57.5%, respectively, over the issue price of ₹103.
The debut surpassed market expectations, as analysts and grey market trends had indicated a 40–50% listing gain. Prior to the listing, Urban Company IPO shares were trading with a premium of ₹51 in the grey market.
Shivani Nyati, Head of Wealth at Swastika Investmart, advised investors to book partial profits following the stellar market debut.
“For those who received allotment, consider booking partial profit and holding the rest for long-term gains with a stop loss of 120. Urban Company, formerly known as UrbanClap, is a leading tech-enabled home services platform offering a wide range of services, including beauty and wellness, appliance repair, cleaning, and maintenance. In FY25, Urban Company reported Revenue of ₹1,144 crore (38% YoY growth) and ₹240 crore (a significant turnaround from a ₹93 crore loss in FY24),” Niyati said.
Urban Company’s IPO witnessed robust demand from investors across categories, with the overall issue subscribed 103.63 times. Retail investors oversubscribed their quota 39.25 times, while Non-Institutional Investors (NIIs) subscribed 74.04 times. The strongest response came from Qualified Institutional Buyers (QIBs), who subscribed 140.20 times.
Urban Company’s IPO opened on Wednesday, September 10, and closed on Friday, September 12, with allotments finalized on September 16.
Investors gave an overwhelming response, subscribing to the issue over 100 times. According to reports, it ranks as the most heavily subscribed public offering in India so far this year.
The ₹1,900 crore Urban Company IPO included a fresh issue of 4.58 crore equity shares worth ₹472 crore and an offer-for-sale (OFS) of 13.86 crore shares amounting to ₹1,428 crore. The company set the price band for the issue between ₹98 and ₹103 per share.
Kotak Mahindra Capital Co. Ltd. acted as the book-running lead manager for the Urban Company IPO, while MUFG Intime India Pvt. Ltd. served as the registrar.
