Urban Company’s IPO of Rs 1,900 crore was opened on September 10 for subscription and today is its second day. This IPO is getting tremendous response from investors as soon as it is launched. By the second day, this IPO has been subscribed to 4.83 times i.e. about 483%. Which clearly shows the interest of investors in this IPO.
Talking about IPO’s gray market premium (GMP), it has reached about 34%. The GMP premium indicates the estimated listing of the share. Urban Company’s shares are trading around Rs 138 with a premium of about Rs 35 against Rs 103 in the gray market.
That is, the company’s shares can be listed at Rs 138 according to the current estimates. If the shares are listed according to the trend of GMP, then investors who get shares of the company through IPO will have a good listing gain.
Heavy lead in subscription
Till the second day of IPO, the total subscription remained 4.83 times, with retail investors 10.82 times and non-institutional investors have subscribed 7.85 times share. Institutional investors have also participated 1.31 times, which suggests that big investors are also excited about investing in the company.
What does the company do?
Urban Company is a digital platform that provides domestic services such as cleaning, deckor, plumbing, electric, insects control. This platform connects customers with trained professionals, which provides reliable and quality services. Apart from this, the company’s own products like water purifiers and electronic door locks are also available in the market.
This company is working in 47 cities of India and has also expanded its business in UAE, Singapore and Saudi Arabia. From the beginning, the company has served more than 1.45 crore customers.