Urban Company, Shringar House of Mangalsutra, Dev Accelerator: 3 IPOs to open tomorrow; check GMP, other details

This week is going to be another action-packed week for primary market investors, as three mainboard initial public offerings (IPOs) are set to open for subscription tomorrow. The public issues of Urban Company, Shringar House of Mangalsutra, and Dev Accelerator will be open for bidding from September 10 to 12, 2025, collectively aiming to raise around ₹2,444 crore. The tentative listing date for these three IPOs on the BSE and NSE is September 17, 2025.

Ahead of its IPO, Urban Company has created a buzz in the grey market, with its shares trading at a premium in the unlisted market. The shares were commanding a grey market premium (GMP) of ₹35, indicating listing price to be around ₹138, up 33.98% over the issue price.

Meanwhile, Shringar House of Mangalsutra’s shares were last quoted at a GMP of ₹25 per share. With a price band of ₹165, the estimated listing price is pegged at around ₹190, reflecting a 15.15% gain over the IPO price.

Dev Accelerator, which provides flexible office spaces and coworking environments, saw its shares trading at ₹71 in the unlisted market. The latest GMP of ₹10 points to a potential listing premium of 16.39%.

Urban Company IPO

The Gurugram-based home services marketplace has set a price band of ₹98–103 per share for its upcoming IPO, aiming to raise ₹1,900 crore through a combination of fresh issue and offer for sale (OFS). At the upper end of the price band, the market value of the company is pegged at around ₹14,790 crore.

The Urban Company IPO comprises a fresh issue of 4.58 crore shares worth ₹472 crore and an OFS of 13.86 crore shares aggregating ₹1,428 crore by existing shareholders. At the upper end of the price band, the Gurugram-based home services marketplace would command a valuation of ₹14,790 crore.

Shringar House of Mangalsutra IPO

The company, engaged in the manufacturing and design of mangalsutras, looks to raise ₹400.95 crore via the IPO route, which is entirely a fresh issue of 2.43 crore shares. The company has fixed the price band at ₹155–165 per equity share of face value ₹10 each.

Established in 2009, Shringar House of Mangalsutra designs, manufactures, and markets a diverse range of mangalsutras adorned with various stones such as American diamonds, cubic zirconia, pearls, mother of pearl, and semi-precious stones, crafted in 18k and 22k gold. The company primarily serves its business-to-business (B2B) clients and holds approximately 6% of the organised mangalsutra market in India as of CY23, according to a CareEdge report mentioned in the DRHP.

Dev Accelerator IPO

The flexible office spaces provider’s IPO is entirely a fresh issue of 2.35 crore shares worth ₹143.35 crore. The IPO price band is set at ₹56–61 per share, and the lot size for an application is 235 shares.

Established in 2017, Dev Accelerator has expanded its presence to 28 centers across 11 cities in India, including major hubs such as Delhi-NCR, Hyderabad, Mumbai, and Pune. The company's business model focuses on providing flexible workspace solutions tailored to the evolving needs of modern businesses. As of May 31, 2025, the company serves over 250 clients, with 14,144 seats covering a total area under management of 860,522 square feet.

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