Urban Company IPO price band: Urban Company has announced the price band for its upcoming initial public offering (IPO), which is set to open for subscription next week on Wednesday, September 10.
Urban Company IPO price band is set at ₹98 to ₹103 per share. The company is looking to raise ₹1,900 crore at the upper price band of the issue.
The mainboard public offer will close bidding on Friday, September 12. Meanwhile, the anchor book will open a day prior to the issue dates, i.e. Tuesday, September 9.
Urban Company IPO is a mix of a fresh issue of ₹472 crore and an offer for sale of ₹1,428 crore. Investors can apply for the Urban Company IPO in lots of 145 shares and its multiples thereof.
Retail investors need to shell out at least ₹14,935 to apply for one lot of the IPO.
In the upcoming Urban Company IPO, 75% of the offer is reserved for qualified institutional buyers (QIBs), 15% for the non-institutional investors (NIIs) and the remaining 10% for the retail investors. Up to ₹2.5 crore of the offer is also reserved for the eligible employees of the company.
Out of the funds raised from fresh share sale, the company plans to use ₹190 crore for funding new technological developments and cloud infrastructure, ₹75 crore for lease payments for the offices, ₹90 crore for marketing activities, and the remaining for general corporate purposes.
About Urban Company
Urban Company is a full-stack online services marketplace for quality-driven services and solutions across various home and beauty categories.
It operates in 51 cities across India, the United Arab Emirates and Singapore. Urban Company’s platform enables consumers to easily order services, including cleaning, pest control, electrician, plumbing, carpentry, appliance servicing and repair, on-demand home-help assistance, painting, skincare, hair grooming and massage therapy.
These services are delivered by trained and independent service professionals at the consumers’ convenience.
Urban Company IPO GMP
As per the latest data from investorgain.com, Urban Company IPO GMP (grey market premium) was ₹10. This means that the shares of the company are trading ₹10 higher than its issue price in the grey market.
The grey market premium signals the investor’s willingness to pay over and above the IPO price for a company’s shares.