Urban Company, Dev Accelerator, Shringar House of Mangalsutra IPOs to open on Sept 10, raising over ₹2,444 crore; all you need to know

The initial public offerings of Urban Company, Dev Accelerator and Shringar House of Mangalsutra will hit the primary market on Wednesday, September 10, to cumulatively raise over ₹2,444.3 crore.

The issues will conclude on Friday, September 12. The basis of allotments is likely to be finalised on September 15, while the listing on the stock exchanges – NSE and BSE – will occur on September 17.

Urban Company IPO

Under the OFS, Accel India IV (Mauritius) Ltd, Bessemer India Capital Holdings II, VYC11, Internet Fund V Pte Ltd, and Elevation Capital V Ltd.

The objectives of the offer include expenditure for new technology development and cloud infrastructure, marketing initiatives, lease payments for its offices and general corporate purposes.

The price band is fixed at ₹98 to ₹103 per share, and a lot consists of 145 shares.

Urban Company runs a technology-driven, full-stack online services marketplace for services and solutions across various home and beauty categories.

Dev Accelerator IPO

The objectives of the offer include capital expenditure for fit-outs in the proposed centres, general corporate purposes and repayment of certain borrowings.

With a price band of ₹56 to ₹61 per share, a lot consists of 235 shares.

Dev Accelerator, which operates under the DevX brand, provides flexible office spaces in major cities such as Hyderabad, Mumbai, Delhi-NCR and Pune.

Shringar House of Mangalsutra IPO

The money generated will be utilised for working capital needs and corporate general purposes.

It has a price range of ₹155 to ₹165 per share. The application size is one lot or 90 shares.

Shringar House of Mangalsutra Ltd makes mangalsutras featuring various stones like cubic zirconia, American diamonds, pearls and semi-precious stones using 18K to 22K gold.