The Urban Company IPO is creating quite a buzz even before its launch. With the subscription window set to open on September 10, the company has already caught the eye of investors in the grey market.
As per the latest trend, the grey market premium (GMP) of this company is soaring. Let’s take a look at the latest GMP trend of this upcoming IPO and other key details of the issue-
Urban Company IPO: Grey market premium buzz
Just days ahead of its launch, the Urban Company IPO GMP has jumped by nearly 18.5%. As of today, the shares of the company were commanding a premium of Rs 19 above the upper price band of Rs 103 in the unofficial market.
This pegs the estimated listing price around Rs 122.
While it is important to note that grey market movements often change quickly once bidding opens, and is not the official listing price.
Urban Company IPO: IPO structure and size
Urban Company IPO is valued at Rs 1,900 crore. It is structured as a mix of fresh equity issuance and an offer-for-sale (OFS) of 13.86 crore shares.
Urban Company IPO: Price band and other key details
The company has fixed a price band of Rs 98-103 per share for this mainboard IPO. For retail investors, the minimum application lot is 145 shares, which translates into an investment of Rs 14,935 at the upper band.
Urban Company IPO: Timeline and allotment details
The bidding process will open on September 10 and close on September 12. The allotment of shares is expected to be finalised by September 15, with refunds and credit of shares on September 16.
After all these processes, Urban Company will list on both BSE and NSE on September 17.
Qualified institutional buyers (QIBs) will receive the lion’s share of the offering, that is, 75% of the issue, worth nearly Rs 1,423 crore.
On the other side non-institutional investors (NIIs) are set to get 15% (Rs 285 crore), while the retail category has been allocated 10% (Rs 190 crore).
The company behind the IPO
Founded in 2014 as UrbanClap by Abhiraj Singh Bhal, Raghav Chandra, and Varun Khaitan, Urban Company has since transformed into India’s leading full-stack home and beauty services platform.
From beauty treatments and grooming to appliance repair, cleaning, and wellness, the company provides a wide range of services in urban households.