Urban Company IPO subscribed 3.1 times on Day 1

BENGALURU: Urban Company's initial public offering (IPO) witnessed strong demand on the first day, with the issue subscribed 3.1 times. The surge was driven by retail and non-institutional investors, while qualified institutional buyers (QIBs) showed measured interest.

Exchange data showed the IPO received bids for 33.3 crore shares against 10.6 crore shares on offer. The retail individual investor (RII) category saw the sharpest demand, subscribing 7 times its reserved portion with bids for 13.5 crore shares against 1.9 crore shares available.