Urban Company’s much-awaited ₹1,900 crore IPO opened today, and investors are already paying close attention. The home-services platform, known for beauty, cleaning and repair bookings, is offering shares at ₹98–₹103 apiece. Bidding will run from September 10 to 12, with listing expected on September 17.
A big anchor boost
The company locked in ₹854 crore from anchor investors yesterday. The names were big: GIC, Fidelity, and Norges Bank, among others. All came in at the top of the price band. That kind of anchor interest usually signals confidence in the company’s story.
Grey market buzz
On the street, the grey market premium (GMP) is around 30–35%. That means traders expect shares to list above the IPO price. But experts caution: the GMP is unofficial. The only reliable place to watch bids is the NSE issue page, which updates demand category-wise in real time.
Profits, at last
Urban Company reported its first-ever profit in FY25. Net profit came in at about ₹240 crore, helped by a one-time tax credit of ₹211 crore. Even without that, the business posted a small pre-tax profit of ₹28 crore. Revenue jumped 38% to about ₹1,145 crore. For a tech startup long in investment mode, turning the corner to profitability matters.
Rich valuation
At the top of the band, analysts peg Urban Company’s P/E multiple at 60x or more. That’s expensive compared with traditional service firms. The market is essentially betting that margins will improve sharply in the years ahead. Any stumble in execution could test investor patience.
Should you apply?
Analysts say this IPO is best suited for investors with a long-term view. The brand is strong, the category is growing, and anchor demand is reassuring. But for short-term players, the listing pop might not justify the risks. SME-like volatility, regulatory questions around gig workers, and intense competition remain in the backdrop.
Urban Company IPO — At a Glance
| IPO Size | ₹1,900 crore (₹472 cr fresh + ₹1,428 cr OFS) |
| Price Band | ₹98 – ₹103 |
| Anchor Investment | ₹854 crore raised at top band (₹103) |
| Bidding Window | Sep 10 – Sep 12, 2025 |
| Listing Date | Expected Sep 17, 2025 |
| FY25 Performance | Revenue ₹1,145 cr (+38% YoY), Net Profit ₹240 cr (incl. tax credit) |
| Valuation Lens | ≈60x P/E at upper band |
| Official Link | NSE — Urban Company IPO |
Urban Company’s IPO has star power: strong anchors, a profit milestone, and a buzz in the grey market. But rich valuations mean the stock will have to deliver on growth and profits quickly. For now, this IPO is shaping up as one of India’s most-watched listings of 2025.
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