Urban Company IPO subscribed over 3x on Day 1 backed by strong retail demand - The Tech Portal
At the upper end of the price band of ₹103, Urban Company is valued at approximately ₹14,800 crore. This places it at a premium to some listed peers, leaving limited headroom for short-term listing gains. The company reported a net profit of ₹240 crore on revenues of ₹1,145 crore in FY25, its first profitable year. However, much of this was aided by a ₹211 crore deferred tax credit... At the upper end of the price band of ₹103, Urban Company is valued at approximately ₹14,800 crore. This places it at a premium to some listed peers, leaving limited headroom for short-term listing gains. The company reported a net profit of ₹240 crore on revenues of ₹1,145 crore in FY25, its first profitable year. However, much of this was aided by a ₹211 crore deferred tax credit, with pre-tax profit at just ₹28 crore—a detail that has prompted experts to question the sustainability of earnings.Urban Company’s ₹1,900 crore IPO was fully subscribed within hours, led by retail and global anchor investors.The ₹1,900-crore IPO of home services marketplace Urban Company was fully subscribed within hours of its launch on Wednesday, closing the day with an overall subscription of more than three times the shares on offer. The frenzy was primarily fueled by a massive surge in demand from retail investors and non-institutional buyers.Meanwhile, the OFS provides lucrative exits for early investors, with Accel and Elevation selling at significant multiples. Anchor participation also included global funds like Fidelity and the Government Pension Fund Global, further validating Urban Company’s standing on the international stage.