Urban company share price: India’s leading domestic service -based technology -based company, Urban Company made tremendous entry into the stock market on Wednesday. The company’s shares on both the major exchange NSE and BSE of the country were listed at a better price than expected, which led to the faces of investors.
While the company’s IPO price was fixed at Rs 103 per share, it was listed at Rs 162.25 on NSE and Rs 161 on BSE. This shows an increase of about 57.5%, which is considered one of the most spectacular listings of recent times. Not only this, even after the listing on the brilliant premium, the shares saw a rise and it reached Rs 179 with a gain of about 11% on the BSE. On the very first day, the share saw a gain of 69% from the issue price.
IPO gets tremendous response
There was already enthusiasm among investors about the IPO of Urban Company. This public issue of Rs 1,900 crore received a total subscription in total. The biggest partnership in this was of the qualified institutional buyers (QIBS), who applied 147 times. At the same time, non-institutional investors participated 77 times and retail investors took 41 times.
What does the company do?
The urban company, which started in 2014, is a major example of the digital revolution of domestic services in India. This company offers services such as decor, massage, clinning, repair of equipment and domestic care through online booking. Right now it is serving in 47 cities of India and has also registered its presence in foreign markets like UAE and Singapore. The company aims to start its services in 200+ cities by FY 2030.
Company’s financial condition
In a recently released report, Urban Company said that its revenue has increased from 830 crores to FY25 to Rs 1,144.5 crore in FY25, which is about 38% growth. However, the company is not yet fully profitable. The amount received from the IPO will be imposed to improve technology, start new services and increase access to new cities.