Urban Company IPO Subscribed 4.51 Times on Day 2 of Bidding; Check GMP

The initial public offering (IPO) of Urban Company was opened on September 10 for public subscription to raise  Rs 1,900 crore. On first day the Urban Company IPO was subscribed by three times. On the second day of bidding today, the IPO was subscribed by 4.51 times. Retail investors subscribed over 10 times, while non-institutional investors booked by 6.92 times. Qualified institutional buyers subscribed by 1.38 times so far.

Urban Company IPO aimed to raise Rs 1,9000 crore with a fresh equity component of Rs 472 crore and an OFS component of Rs 1,428 crore, with the price band fixed at Rs 98 to 103 per equity share, with a face value of Rs 1 each. The IPO opened on September 10 and is scheduled to close on September 12, followed by allotment on September 15.

Also Read | India's IPO Rush: Redseer on the Strategic Imperatives for New-age Companies.

Urban Company IPO GMP

The share of the Urban Company is expected to list at around Rs 142, which will be 38% higher than the IPO's upper band of Rs 103, according to the GMP tracking websites. However, GMP is not the official listing price of a share, it can be fluctuate depending on the market.

The price band of the Urban Company issue is between Rs 98 and Rs 103 per share. At the upper end, these values are Urban Company at roughly Rs 14,790 crore.

Retail investors can apply for a minimum of 145 shares, making the minimum investment around Rs 14,935 if subscribing at the top price.