Urban Company Ltd.URBANCO₹166.83 +61.97%

Urban Company Ltd., India’s leading tech-enabled home services marketplace, made a blockbuster debut on the stock market today, listing at a significant premium over its IPO price. The company’s shares opened at ₹162.25 on the NSE and ₹161 on the BSE, marking a premium of 57.5% and 56.3% respectively, from the issue price of ₹103.

The strong listing was in line with market expectations, which were fueled by an overwhelming subscription of 103.61 times during the IPO. The listing gains reflect strong investor confidence in the company’s growth prospects within India’s rapidly digitizing home services market. The stock continued to rally after its opening, hitting an intraday high of ₹179, a gain of nearly 74% from its issue price.

The success of the IPO is a testament to Urban Company’s strategic position in a massive, yet largely unorganized, market. The company has a proven record of improving operational efficiency and has recently turned profitable on a net basis, which was a key factor for investors. The IPO proceeds are earmarked for funding technology development, cloud infrastructure, and marketing, all of which are crucial for the company’s planned expansion into more cities.

Note: The stock prices mentioned are as of 3:30 pm.

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PhonePe Wealth Broking Private Limited is a member of NSE & BSE with SEBI Regn. No.: INZ000302639, Depository Participant of CDSL Depository with SEBI Regn. No.: IN-DP-696-2022, Research Analyst with SEBI Regn No: INH000013387, BSE RA Enlistment Number: 5887, and Mutual Fund distributor with AMFI Registration No: ARN- 187821. Member ID: BSE- 6756, NSE- 90226. 

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Registered office – 2, Floor 3, Wing A, Block A, Salarpuria Softzone, Service Road, Green Glen Layout, Bellandur, Bengaluru South, Bengaluru, Karnataka – 560103, INDIA.

CIN: U65990KA2021PTC146954.