Urban Company IPO tops 2025 subscription charts with 104x bids, surpasses Aditya Infotech

Urban Company’s initial public offering (IPO) has emerged as the most subscribed public issue in India this year, receiving bids nearly 104 times the shares on offer. With this, Urban Company has overtaken Aditya Infotech, the manufacturer of video security and surveillance products under the ‘CP Plus’ brand, whose IPO was subscribed 100.7 times.

Other high-demand issues this year include Anthem Biosciences (63.9x), Crizac Ltd (59.8x), Vikram Solar Ltd (54.6x), National Securities Depository Ltd (41x), and Oswal Pumps Ltd (34.4x).

The ₹1,900-crore IPO of Urban Company, which was open for subscription between September 10 and 12, was fully booked within a few hours of opening. The issue was subscribed 3.3 times on Day 1 and 9.5 times on Day 2, before closing with a record 103.63 times subscription on the final day.

According to exchange data, the IPO garnered bids worth over ₹1.14 lakh crore, with nearly 1,106.44 crore shares applied for against an offer size of 10.67 crore shares. The issue attracted around 44.8 lakh applications.

The qualified institutional buyers (QIB) portion was the most oversubscribed, receiving bids 140.20 times the shares on offer, while the non-institutional investors (NII) category was subscribed 74.04 times. The retail investor quota was subscribed 39.25 times, while the employee portion saw 36.79 times subscription.

The Gurugram-based home services marketplace had reserved 75% of the IPO for QIBs, while the quota for NIIs and retail investors was fixed at 15% and 10%, respectively. The lot size was 145 shares and in multiples thereafter, with a minimum investment of ₹14,935 for retail investors.

The company had set a price band of ₹98-103 per share for the IPO, which comprised both a fresh issue and an offer for sale (OFS). The fresh issue was for 4.58 crore shares worth ₹472 crore, while the OFS was for13.86 crore shares aggregating ₹1,428 crore by existing shareholders. Ahead of the IPO, the company raised ₹854 crore from anchor investors by allotting 8.29 crore equity shares at an issue price of ₹103 per share.

Out of the fresh equity proceeds, Urban Company plans to utilise capital mainly for growth and expansion initiatives. Around ₹190 crore has been earmarked for technology development and cloud infrastructure, ₹75 crore for lease payments on offices, and ₹90 crore for marketing activities, with the balance allocated for general corporate purposes.

Ahead of listing, Urban Company had created a buzz in the grey market, with its shares commanding a premium of ₹56, implying a potential listing price of around ₹159, up 54.37% over the issue price.

The allotment of Urban Company shares is expected to be finalised on September 15, while the stock is slated to list on the BSE and the NSE on September 17, 2025.

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