The Urban Company IPO was subscribed 103.6 instances, with institutional patrons main demand. In response to BSE knowledge, the problem obtained bids for 11,064 million shares towards the 107 million on provide. The QIB class was subscribed 140.2 instances, with 8,144 million shares bid for towards 58 million reserved. Non-institutional traders subscribed almost 74 instances, retail traders 39.2 instances, and workers 36.7 instances.
The curiosity sustained after the IPO closed, with the grey market premium at Rs 51 per share, indicating Urban Company shares might record at a premium.
City Firm IPO: Key particulars
- Concern dimension: Rs 1,900 crore
- Recent challenge: Rs 472 crore contemporary challenge
- Supply on the market: Rs 1,428 crore offer-for-sale by current traders.
- Concern value: Rs 103 per share
- Valuation: At this vary, the corporate’s valuation will come as much as roughly Rs 15,000 crore. City Firm’s gray market premium (GMP) is round Rs 10.
Utilizing the capital
As per the draft red herring prospectus (DRHP) filed by the corporate, that is how City Firm will deploy the Rs 472 crore from the contemporary challenge:
- Rs 190 crore for brand new know-how growth and cloud infrastructure;
- Rs 70 crore on workplace leases;
- Rs 80 crore on advertising and marketing actions;
- A portion will likely be spent on basic company functions.
Urban Company on June 18 reported a 38% improve in its working income for 2024-25 to Rs 1,144 crore. The platform swung into the black, posting a web revenue of Rs 240 crore.
The turnaround got here on the again of a Rs 211 crore deferred tax credit score. Nevertheless, even on a pre-tax foundation, the corporate reported a revenue of Rs 28 crore.
In 2024, the corporate had reported a net loss of Rs 93 crore, down from Rs 312 crore within the earlier monetary 12 months. Its working income was at Rs 827 crore.
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