Urban Company, an app-based home and beauty services platform, shares listed at a 58% premium over the IPO issue price on Wednesday, September 17. The Urban Company IPO witnessed huge bidding as investors subscribed 103.63 times during the bidding period between September 10 and 12 in the primary market.
Urban Company Share Listing Price?
Shares of Rs 1,900 crore were listed at Rs 162.25 per share on the National Stock Exchange (NSE), 57.52% higher than its IPO issue price. The company had announced its initial public offering with a price band of a minimum bidding of Rs 98 and a maximum of Rs 103 per share for its issue.
Also Read | Share Market Investment Scam: Nagpur Couple Dupes 19 Investors of Rs 2.37 Crore, Absconding.
On the Bombay Stock Exchange (BSE), the shares of Urban Company were listed at Rs 161 per share, a premium of 56.31%. The company's market capitalisation post listing of shares stood at Rs 23,118.02 crore, according to the data from the BSE website.
Urban Company IPO Listing vs GMP Rate
Urban Company's IPO listing on the opening day was better than the grey market premium (GMP) forecast. IPO in the GMP was expected more than 52% listing gains in the secondary market. The company had earlier collected over Rs 854 crore from anchor investors.