Lagatar24 Desk
New Delhi: Urban Company, India’s largest tech-enabled home services marketplace, made a stellar debut on Dalal Street on Wednesday, with its stock listing at a 57.5% premium over the IPO price. Shares opened at ₹162.25 on the NSE compared to the issue price of ₹103, and at ₹161 on the BSE before surging to ₹179, giving the firm a market capitalisation of ₹24,216 crore.
IPO Subscription And Listing Performance
The ₹1,900-crore IPO, priced at ₹98–103 per share, drew massive investor interest, being oversubscribed 103 times — the highest this year in India. Qualified institutional buyers led the charge with bids at 147 times, followed by non-institutional investors at 77 times and retail investors at 41 times. A grey market premium of around ₹52 ahead of listing had hinted at a strong debut near ₹155, reflecting confidence in the company’s business model.
Investment Strategy For Shareholders
Market experts suggest a cautious approach after the sharp listing gains. Prashanth Tapse, Senior VP (Research) at Mehta Equities, said the performance exceeded expectations, but the stock remains a strong long-term play in India’s growing home services market. He recommended that investors who got allotments book partial profits and hold the remaining shares for long-term gains, with a stop loss around ₹120. Non-allotted investors are advised to adopt a “wait and watch” stance for any post-listing correction before entering.
