The initial public offer of app-based beauty and home services platform Urban Company Ltd witnessed massive investor participation, with the Rs 1,900-crore IPO getting subscribed 103.63 times on the final day of bidding on Friday, according to NSE data.Bids were received for 11,06,46,08,960 shares against 10,67,73,244 shares on offer. The Qualified Institutional Buyers (QIBs) category was oversubscribed 140.20 times, non-institutional investors 74.04 times, and Retail Individual Investors (RIIs) 39.25 times, PTI reported.Urban Company had earlier raised Rs 854 crore from anchor investors. The IPO is priced in the band of Rs 98-103 per share, valuing the company at Rs 14,790 crore at the upper end.Funds raised through the IPO are intended for new technology development and cloud infrastructure, office lease payments, marketing activities, and general corporate purposes.Urban Company operates a technology-driven, full-stack online marketplace providing a wide range of services across home and beauty categories. It has a presence not only in India but also in the United Arab Emirates, Singapore, and the Kingdom of Saudi Arabia.The platform allows consumers to order services including cleaning, pest control, electrical work, plumbing, carpentry, appliance servicing and repair, painting, skincare, hair grooming, and massage therapy.Kotak Mahindra Capital Company, Morgan Stanley India Company, Goldman Sachs (India) Securities, and JM Financial are the book-running lead managers for the issue.
