Urban Company IPO listing: Shares debut at nearly 60% premium on D-Street; What investors should know

NEW DELHI: India’s largest tech-enabled home services marketplace, Urban Company, made a blockbuster debut on Dalal Street on Wednesday.The stock listed at Rs 162.25 on NSE, a 57.5% premium over its IPO price of Rs 103. On BSE, the stock opened at Rs 161, up 56.3%, before rallying further to Rs 179, a gain of nearly 74%. The company’s market valuation touched Rs 24,216 crore.The company’s Rs 1,900-crore IPO, priced at Rs 98–103 per share, had received massive investor interest, being subscribed more than 103 times overall, the highest subscription seen in India this year.The qualified institutional buyers (QIB) led the interest with bids at 147 times, followed by Non-Institutional Investors at 77 times and retail investors at 41 times, reported ET.Ahead of the listing, the grey market premium (GMP) of around Rs 52 per share had already hinted at a likely strong debut near Rs 155, reflecting strong investor confidence in the company’s growth prospects.Founded in 2014, Urban Company provides a broad range of home services — from beauty and wellness to appliance repair, cleaning, and home maintenance, and has established itself as a market leader in the segment.This is a developing copy