The Initial public offering (IPO) of Urban Company was subscribed by 104.7 times on the third and final day of bidding on Friday, September 12. According to NSE data, the app-based service company received bids for over 800-crore shares against 10.67-crore shares on offer.
The GMP of Rs 1,900-crore Urban Company IPO has reached nearly 45% as the issue sees strong subscription on the last day. The share of Urban Company in the grey market premium quoted a GMP of Rs 45, suggesting an opening price could gain 43.69%, according to portals tracking the grey market.
The non-institutional investors subscribed 69.53 times,s while the category for Retail Individual Investors got subscribed 35.24 times. Qualified Institutional Buyers (QIBs) received 93.35 times the subscription.
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Urban Company IPO price band of its shares is between Rs 98-103 per share. At the upper end, this values Urban Company at roughly Rs 14,790 crore. Share allotment is expected on September 15, with refunds and share credits scheduled for September 16. The company is set to list on both BSE and NSE on September 17.