Urban Company, India’s largest tech-enabled home services marketplace, made a strong debut on Dalal Street on Wednesday, listing at a 57.5% premium on the National Stock Exchange (NSE). Shares opened at ₹162.25 against the IPO price of ₹103, while on the Bombay Stock Exchange (BSE) they began at ₹161—a 56.3% premium—before peaking at ₹179, marking a 74% gain over the issue price.
The company’s ₹1,900-crore public offering, priced in the ₹98–103 band, was subscribed a record 103 times, driven by robust demand from qualified institutional buyers (147x), non-institutional investors (77x) and retail investors (41x). The grey market premium of around ₹52 per share had already hinted at a strong listing.
Urban Company’s market valuation touched ₹24,216 crore on listing day. Founded in 2014, the platform connects customers with over 40,000 professionals offering services ranging from beauty and wellness to appliance repair and home maintenance.
Prashanth Tapse, Senior VP (Research) at Mehta Equities, described the debut as “above expectations,” advising long-term investors to hold the stock while suggesting non-allottees “wait and watch” for potential entry points following any price corrections.
This successful listing underscores investor confidence in India’s on-demand services sector and sets a high bar for upcoming public offerings in the space.
