Urban Company shares surge over 57% on market debut

New Delhi: Shares of Urban Company, an app-based platform for home and beauty services, made a strong debut on the stock market on Wednesday, listing at a substantial premium over the issue price.

On the BSE, the stock opened at Rs 161 per share, a rise of 56.31% from the issue price of Rs 103, and later touched Rs 179, representing a gain of 73.78%. On the NSE, the shares listed at Rs 162.25, a 57.52% premium over the issue price. Following the listing, Urban Company’s market valuation was estimated at Rs 24,216.49 crore.

The company’s initial public offering, valued at Rs 1,900 crore, had a price band of Rs 98–103 per share and received substantial investor interest, with the final subscription on Friday last week reaching 103.63 times.

Funds raised through the fresh issue are planned to be used for technology development, cloud infrastructure, office lease payments, marketing, and general corporate purposes.

Urban Company operates a technology-driven, full-stack online marketplace offering services across home and beauty categories, including cleaning, pest control, electrical work, plumbing, carpentry, appliance servicing, painting, skincare, hair grooming, and massage therapy. The platform is present not only in India but also in the United Arab Emirates, Singapore, and the Kingdom of Saudi Arabia.