Urban Company IPO fully subscribed on opening day: 10 key things to know from RHP

Urban Company IPO: The initial public offering of application-based beauty and home services platform Urban Company (formerly known as UrbanClap) was fully subscribed within hours of opening for public subscription on Wednesday, September 10. The price band has been set at ₹98 to ₹103 per share.

The company's shares will be listed on the stock exchanges on September 17.

Urban Company IPO day 1 live: Subscription details

Urban Company IPO: 10 key things to know from RHP

• Urban Company IPO subscription period: The initial public offering will be open for bidding from Wednesday, September 10, to Friday, September 12.
• IPO offer structure: It is a mix of fresh issuance of shares aggregating to ₹472 crore and an offer for sale (OFS) of ₹1,428 crore, taking the total issue size to ₹1,900 crore.
• Urban Company IPO price band: The price range has been fixed at ₹98 to ₹103 per equity share.
• Urban Company IPO anchor investors: The tech-enabled company mobilised ₹854 crore in the anchor round from investors such as Government Pension Fund Global, Fidelity Funds, Nomura Funds Ireland Public Limited Company, Florida Retirement System, Theleme India Master Fund Ltd, Amundi Funds New Silk Road, Allspring Global Investments LLC (EMSC), Nippon India Mutual Fund (MF), ICICI Prudential MF, Aditya Birla Sun Life MF, SBI MF, ICICI Prudential Life Insurance Company and SBI Life Insurance Company.
• Urban Company IPO lot size: An application consists of 145 shares and in multiples thereafter.
• Reservation: The company has kept aside 75% of the net offer for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs) and 10% for retail investors.
• Objectives: Those selling shares under the OFS route are Accel India and Elevation Capital, Internet Fund V Pte Ltd, Bessemer India Capital Holdings II Ltd, and VYC11 Ltd. The fresh issue proceeds will be used for new technology development and cloud infrastructure, marketing activities, lease payments for its offices, and general corporate purposes.
• Book-running lead manager and registrar: Kotak Mahindra Capital Company, Goldman Sachs (India) Securities, JM Financial and Morgan Stanley India Company are the book-running lead managers to the issue, while MUFG Intime India is the registrar.
• Urban IPO allotment date: The basis of allotment is likely to be finalised on September 15.
• Listing date: The listing on the NSE and the BSE will occur on September 17.

Urban Company, a technology platform, connects users with trained service professionals for categories like beauty, cleaning, pest control, electrician and plumbing, among others. Apart from India, it also has a presence in the United Arab Emirates (UAE), Singapore, and the Kingdom of Saudi Arabia.

Urban Company IPO GMP

According to investorgain.com and media reports, the unlisted shares of Urban Company are trading at ₹139.5 per share, reflecting a grey market premium, or GMP, of 35.44% over the upper price band of ₹103.