Urban Company's IPO is making a splash, there be a chance to earn big money
Urban Company IPO: Urban Company's Rs 1,900 crore IPO was open for subscription on September 10 and today is its second day. This IPO is getting tremendous response from investors as soon as it was launched. By the second day itself, this IPO has been subscribed 4.83 times i.e. about 483%. Which clearly shows the interest of investors in this IPO.
Not only this, the company's IPO is also making a splash in the gray market.
Chance to earn big money
Talking about the gray market premium (GMP) of the IPO, it has reached about 34%. The GMP premium indicates the estimated listing of the share. Shares of Urban Company are trading at around Rs 138 in the gray market with a premium of about Rs 35 against the upper price of the IPO of Rs 103.
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That is, the company's shares can be listed at Rs 138 as per current estimates. If the shares are listed according to the trend of GMP, then the investors who will get the company's shares through the IPO will get good listing gain i.e. profit.
Huge increase in subscription
The total subscription till the second day of the IPO was 4.83 times, in which retail investors have subscribed 10.82 times and non-institutional investors have subscribed 7.85 times the shares. Institutional investors have also participated 1.31 times, which shows that big investors are also excited about investing in the company.
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What does the company do?
Urban Company is a digital platform that provides home services such as cleaning, decor, plumbing, electrics, insect control at home. This platform connects customers with trained professionals, thereby providing reliable and quality services. Apart from this, the company's own products like water purifier and electronic door lock are also available in the market.
Summary
This company is operating in 47 cities of India and has also expanded its business to UAE, Singapore and Saudi Arabia. From the beginning till now, the company has served more than 1.45 crore customers.
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