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India’s Urban Company soars 58% above IPO price in year’s most subscribed offering
Urban Company’s IPO, which opened last week, was oversubscribed more than 100 times, reflecting strong investor demand.
Urban Company, India’s largest home services platform, stormed onto the public markets on Wednesday, opening 58% above its issue price after delivering the country’s most subscribed IPO of the year. The Gurugram-based startup, which connects users to at-home services ranging from beauty treatments to appliance repair, debuted on the Mumbai-based National Stock Exchange at ₹162.25 per share (approximately $1.84), up from its IPO issue price of ₹103. One of the key reasons behind Urban Company’s success over the past decade has been its ability to organize traditionally unorganized household services in India — including cleaning, plumbing, electrical work, massage, and beauty treatments.
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