Urban Company opened its initial public offering (IPO) on September 10, aiming to raise ₹1,900 crore through a mix of fresh shares and an offer for sale. The issue will remain open for subscription until September 12, with listing on the BSE and NSE tentatively scheduled for September 17.
The IPO comprises a fresh issue of around 4.58 crore shares to raise ₹472 crore, alongside an offer for sale of 13.86 crore shares valued at ₹1,428 crore. The price band has been fixed at ₹98 to ₹103 per share.
Investors can apply in lots of 145 shares. For retail buyers, the minimum investment at the upper price limit works out to ₹14,935. Small high-net-worth investors (sNII) must apply for at least 14 lots (2,030 shares) requiring ₹2,09,090, while big HNIs (bNII) must apply for at least 67 lots (9,715 shares) amounting to ₹10,00,645.
Kotak Mahindra Capital is the book-running lead manager, with MUFG Intime India Pvt. Ltd. acting as registrar. The share allotment is expected to be finalised by September 15.
The IPO has drawn interest in the grey market. As of the morning of September 10, the grey market premium (GMP) stood at ₹36.5 per share. Based on the upper price band of ₹103, this indicates a potential listing price of ₹139.5, or an estimated gain of about 35%.