 "urban company")
Don't want to miss the best from Business Standard?
The ₹1,900 crore initial public offering (IPO) of tech startup Urban Company got lapped up within hours of launch.
On the first day, the share sale — through which the company is raising ₹472 crore in fresh capital — was subscribed more than 3x, with the retail portion already seeing over seven times more demand than shares on offer.
Tiger Global-backed Urban Company is a marketplace that connects customers with professionals that offer services such as beauty, grooming, cleaning, plumbing, carpentry, and appliance repair.
The shares are priced in the range of ₹98-103 in the public offer. At the top-end, the company is valued at ₹14,800 crore.
Make smarter market moves with The Smart Investor. Daily insights on buzzing stocks and actionable information to guide your investment decisions delivered to your inbox.
Founded in 2014, Urban operates across 47 Indian cities, and has also expanded to the United Arab Emirates and Singapore. In FY25, the company had clocked net profit of ₹248 crore on revenues of ₹1,145 crore.
Also Read
 "Shringar House of Mangalsutra IPO")
 "Urban Company IPO")
 "Austere Systems IPO allotment")
 "Urban Company IPO")
 "Austere Systems IPO")
“Urban Company’s initial issue is priced at 12.4 times trailing 12-month enterprise value-to-sales, which appears higher compared to its listed peers in the food service category. Moreover, we have compared the company's financial performance with other service companies (not directly comparable) and believe its issue to be fairly priced. We believe the company is well-positioned to capitalise on the growth driven by expanding consumer segments and shifting preferences towards higher spends on experiences,” said a note by Deven Chokey Research, which has a ‘subscribe’ rating on the IPO.
Textile stocks gain on US trade deal optimism
Textile stocks surged on Wednesday after US President Donald Trump and Indian Prime Minister Narendra Modi agreed to restart trade negotiations. Last month, Trump had doubled tariffs on Indian goods to 50 per cent—a penalty for New Delhi’s continued purchases of Russian oil—casting a shadow over India’s apparel exporters. Any rollback would be a lifeline for manufacturers that depend on American orders. Welspun Living and Vardhman Textiles jumped more than 8 per cent, Gokaldas Exports and Kitex Garments climbed over 4 per cent, and Indo Count Industries leapt 20 per cent.
Blue Jet Healthcare OFS oversubscribed 1.5x
The offer for sale (OFS) in Blue Jet Healthcare saw bids for 17.55 million shares against a total of 11.85 million shares on offer, translating into a 1.5 times subscription. In the share sale, promoter Akshay Bansarilal Arora is offloading a 6.83 per cent stake. The floor price for the OFS has been set at ₹675 apiece. Shares of the company closed at ₹700, down 4.3 per cent on Tuesday.
Sumitomo sells 1.62% stake in Kotak Mahindra Bank
Japan’s Sumitomo Mitsui Banking Corp. on Wednesday sold 1.62 per cent stake in Kotak Mahindra Bank. It sold 32.23 million shares at ₹1,940.8 apiece to raise ₹6,256 crore. Several foreign and domestic funds were among the buyers. Shares of Kotak Mahindra Bank last closed at ₹1,973.4, up 0.7 per cent over its previous close.
Disclosure: Entities controlled by the Kotak family have a significant holding in Business Standard Pvt Ltd
 "Rs, Rupee, Indian Currency, 20 Rs, Economy")
 "S Naren")
 "BSE, NSE, Sensex, Nifty, stock markets")
 "Vande Bharat")
 "Share Market")
