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6h ago

Urban Company IPO Opens With Rapid Retail Take-Up as Grey-Market Premium Climbs

Strong early interest follows a Rs 854 crore anchor round, with a higher grey‑market quote testing appetite for a largely offer‑for‑sale float after the company’s return to profit.

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Overview

  • Retail bids were fully subscribed within an hour on Day 1, and total subscriptions topped the issue size roughly two hours into opening.
  • The grey‑market premium rose into the Rs 35–38 range on Wednesday morning, implying about 34–37% listing gains, though such quotes are unofficial and volatile.
  • The Rs 1,900 crore offer includes a Rs 472 crore fresh issue for technology and cloud upgrades, leases and marketing, alongside a Rs 1,428 crore offer‑for‑sale by existing investors.
  • The price band is Rs 98–103 per share with a lot size of 145 shares, putting the minimum retail outlay at Rs 14,935 and valuing the company at about Rs 14,790 crore at the top end.
  • Anchor investors committed about Rs 854 crore at Rs 103 per share, the QIB/NII/retail split is 75%/15%/10%, the allotment date is Sept 15 and the tentative listing is Sept 17 on BSE and NSE.