Urban Company IPO Oversubscribed

EITC, an Indian home services firm, launched its initial public offering (IPO) from September 10 to September 12, 2025, aiming to raise ₹1,900 crore. The IPO, which included a fresh issue of ₹472 crore and an offer for sale of ₹1,428 crore, was priced between ₹98 and ₹103 per equity share. The public bidding saw an overwhelming response, with the IPO being subscribed 103.63 times overall. Qualified Institutional Buyers (QIBs) subscribed 140.20 times, Non-Institutional Investors (NIIs) 74.04 times, and retail investors 39.25 times. The grey market premium (GMP) for EITC shares reached ₹54 per share by the final day, suggesting a potential listing price of ₹157, a 52.43% premium. The company plans to use the proceeds for technology development, cloud infrastructure, office lease payments, marketing, and general corporate purposes. EITC, which operates in 59 cities across India and other countries, reported a consolidated net profit of ₹239.8 crore in FY25, a significant turnaround from previous losses, further boosting investor sentiment. Kotak Mahindra Bank — Kotak Mahindra Capital Company is the lead manager, and MUFG Intime India Private Limited is the registrar for the IPO. The shares are expected to be listed on the BSE and National Stock Exchange of India on September 17, 2025.