&imwidth=800&imheight=600&format=webp&quality=medium "Urban Company IPO listing: Gurugram-based firm's shares trading 63 per cent higher")
Urban Company, India's home serviceplatform, achieved a valuation of $3 billion as its IPO was listed. The company's stock jumped 74 per cent, marking a stellar debut. At 11.30 am, the stock of the firm, whichmaintains a dominant position in India, was trading63 per cent higher than the listing price at Rs 179.
Urban Company's stock was listed at Rs 162.25 on the National Stock Exchange of India, which was a 57.5% premium on the issue price, higher than what experts anticipated. Urban Company is the only player in the home services market. The industry is expected to grow 22.4 per cent annually between 2023 and 2030.
All you need to know about Urban Company IPO
The Gurugram-based company offers several home services, such as plumbers, house cleaning, garage cleaning, haircuts, and facials.
"Investor excitement stems from viewing this (Urban Company) as a structural long-term play on digital adoption and a proxy for the rising demand in home services," Aishvarya Dadheech, founder of Fident Asset Management, told Reuters.
Urban Company's IPO was subscribed 103.65 times, and it garnered bids worth $13 billion, showing investor confidence in the firm and the sector.
Trending Stories
)
Trump announces ‘AI Force’ as debate grows over AI risks and regulation
)
Vibe vs Daayra box office collection day 2: Kunal Kemmu’s directorial stays ahead of Kareena Kapoor's crime thriller
)
Munich Mayor taps first keg to kick off Oktoberfest
)
Trump in ‘deciding mode’ on Iran, says ‘very big things’ going to happen soon
)
S Jaishankar, former Army chief among high-profile names issued Delhi SIR notices
&im=FitAndFill=(700,400))
What TSMC's 2nm technology means for Apple
)
Mark Carney mimics Trump in hilarious moment over C$70 billion clean-energy investment; room erupts in laughter
)
Trump defends AI amid growing alarm, announces new 'AI force' and promises an 'AI czar'
)
Samsung raises Galaxy S26 prices by Rs 20,000: Here’s what each model now costs
)
West Indies Squad for India Series: Hetmyer included for T20Is, Holder rested
)
'Were you here to sell chickpeas?': Wasim Akram criticises Babar Azam's captaincy
)
9 women found dead near Johannesburg: South Africans rally, demand 'enough' to femicide
)
Several petrol pumps, other businesses to refuse UPI payments above Rs 2,000 from Oct 16: Is it legal?
)
North Korea's nuclear tests triggered 1,399 earthquakes: Earth is still shaking | Gravitas
)
BTS' fans question iHeartRadio’s treatment of group after brief festival set
)
Trump says he'll build an 'AI Force' and appoint a czar, for 'high IQ' people only
&im=FitAndFill=(700,400))
Top 10 countries in mathematics: See the world’s best performers in 2026
)
Ed Sheeran addresses Macklemore's removal, Gaza conflict during Philadelphia concert: 'I cannot hide how I feel'
)
Trump signs Russia sanction bill. How will it impact India? WION Explains
)
Bigg Boss 20: Who Is Rohed Khan? Meet the Austrian actor from Bade Miyan Chote Miyan
)
Israeli President pardons combat medic who shot dead a badly wounded Palestinian attacker
)
Saudi Arabia exits China-led mBridge digital currency platform amid Saudi-Houthi conflict
)
Arvind Kejriwal, family members, Delhi CM Rekha Gupta get SIR notices
)
AI safety debate: Trump says he will not tolerate attempts to slow AI growth
)
China now makes advanced memory chips without the machines it was banned from buying
)
Saudi vs Houthis: Houthis claim missiles & drones used in attack on key Saudi sites
)
AUS vs ZIM, 3rd ODI: Ellis stars as Australia edge Zimbabwe by one wicket in last-over thriller
)
Italy to ban burqa and hijab in schools, limit foreign students per class: PM Giorgia Meloni
)
'Lot of things to learn from experienced players': Jayasuriya backs Rohit, Virat for 2027 ODI World Cup
)
Kampala-Ankara rift deepens: Uganda suspends military ties, seeks Fred Lumbuye's extradition
)
Asian Games 2026: India win first medal as women’s 10m air rifle team claims silver
)
Sikh bus driver assaulted, bus stolen and rammed into cars in England; video surfaces
)
AI actress Tilly Norwood glitches mid-interview, switches from English to Chinese | Watch
)
Iran sets 7 conditions to end war with US: What are Tehran’s demands?
)
Harry Brook targets long reign at top of T20I rankings after Sri Lanka sweep
The Urban Company wants to utilise the funds raised through the IPO for building new technology and cloud infrastructure. It will also use the money for its offices and other corporate purposes.
The IPO of the firm is worth Rs 1900 crore. The company had set a price band of Rs 98 to 103.
Following talks between Donald Trump and Prime Minister Narendra Modi over the latter's birthday, the Indian stock markets opened on a positive note on Wednesday.
The Nifty 50 index started the day at 25,276.60, gaining 37.50 points or 0.15 per cent, while the BSE Sensex opened at 82,498.97, up 118.28 points or 0.14 per cent.