Urban Company Ltd.’s initial public offering was oversubscribed 27.29 times on the third day of subscription on Friday. It was subscribed nine times on Thursday. The portion for retail investors was fully booked within an hour of launch.
The total offer is worth Rs 1,900 crore that comprises a fresh issue of 4.58 crore shares amounting to Rs 472 crore, and an offer-for-sale of 13.86 crore shares worth Rs 1,428 crore. The price band is set between Rs 98 and Rs 103 per share.
The IPO will close on Sept. 12. The allotment of shares is proposed to be finalised on Sept. 15. The company will transfer shares to the demat accounts of successful bidders on Sept. 16 and refunds for non-allottees will be done on the same day.
Urban Company will list on the stock market on Sept. 17. Kotak Mahindra Capital Company Ltd., Morgan Stanley India Company Private Ltd, Goldman Sachs (India) Securities Private Ltd, and JM Financial Ltd. are the book running lead manager and MUFG Intime India Ltd. is the registrar of the issue.
