City Company IPO closed today – see subscription details and list timeline
City Company IPO: Urban Company’s initial public offering will be closed on Friday after attracting strong interest from investors in the first two days.
Exchange data shows that by September 11, the home service platform had received bids of 96.14 billion shares, while the 1.068 billion shares offered had been converted into approximately nine oversubscriptions.
Non-institutional investors led the allegation, with oversubscribed quota of 18.22, followed by 17.68 for retail investors. Qualified institutional buyers also oversubscribed their retention portion, even higher, despite the number of times.
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The 19,000 crore issue includes brand new sales of 45.8 million shares worth Rs 47.2 crore, and offers of up to 138.6 million shares, totaling Rs 14,28 crore.
The IPO priced at a band of Rs 98-103 per share, with a minimum fare of 145 shares, or Rs 14,935 of the highest stake, with a maximum bid of 13 shares (1,885 shares), totaling Rs 1944 crore.
The basis for the distribution is expected to be completed on September 15 and may attribute the stock to successful bidders on September 16. Urban Company is seeking to raise funds to expand operations, invest in technology and infrastructure, and pay for rental and marketing costs.
