Urban Company’s much-anticipated ₹1,900-crore initial public offering (IPO) witnessed overwhelming investor demand, closing its first day of bidding with 3.13 times subscription, according to NSE data. The company received bids for 33.38 crore shares against the 10.68 crore on offer.

Retail investors led the surge, subscribing nearly 7×, followed by non-institutional investors at 4.16×, and qualified institutional buyers at 1.31×. This strong demand highlights the confidence retail participants have in India’s leading tech-enabled home services platform.

The IPO comprises a ₹472 crore fresh issue and a ₹1,428 crore offer-for-sale (OFS) by existing investors, including Accel India and Elevation Capital. Urban Company had already raised ₹854 crore from anchor investors ahead of the issue.

Priced between ₹98 and ₹103 per share, the IPO values the company at approximately ₹14,790 crore at the upper band. Proceeds will fund technology development, cloud infrastructure, office leases, and marketing.

The issue closes on September 12, with listing expected on September 17.