India’s Urban Company soars 58% above IPO price in year’s most subscribed offering
Urban Company, India’s largest home services platform, stormed onto the public markets on Wednesday, opening 58% above its issue price after delivering the country’s most subscribed IPO of the year. The Gurugram-based startup, which connects users to at-home services ranging from beauty treatments to appliance repair, debuted on the Mumbai-based National Stock Exchange at ₹162.25 per share (approximately $1.84), up from its IPO issue price of ₹103. The offering, which opened last week, was subscribed over 100 times, meaning investors placed orders for 100 times more shares than were available, signaling robust demand from both institutional and retail investors. Urban Company’s public listing has also served as a partial exit opportunity for its early backers, with…
