Urban Company’s market debut turned out to be a blockbuster on September 17, as its shares opened with a massive 57 per cent premium over the IPO price. The Rs 1,900-crore issue, which saw overwhelming investor demand with a subscription of 103.63 times, listed at Rs 162.25 per share on the NSE against the price band of Rs 98–103.

On the BSE, Urban Company shares made a strong entry at Rs 161 apiece, marking a 56.31 per cent premium. With this strong debut, the company’s market capitalization touched Rs 23,118.02 crore

The Urban Company IPO opened on September 10 and closed on September 12, with allotments finalised on September 16. The issue saw a blockbuster response from investors, getting subscribed over 100 times. According to a Bloomberg report, it was the most heavily subscribed share sale in India this year. 

The Rs 1,900 crore Urban Company IPO included a fresh issue of 4.58 crore equity shares worth Rs 472 crore and an offer-for-sale (OFS) of 13.86 crore shares valued at Rs 1,428 crore. The price band was set between Rs 98 and Rs 103 per share. Kotak Mahindra Capital Co. Ltd. acted as the lead manager, while MUFG Intime India Pvt. Ltd. handled the registrar duties for the issue.