IPO rush continues: See subscription levels of Urban Co IPO and others, GMP etc

Kolkata: Three mainboard IPOs hit Dalal Street on September 10 and within a few hours all three were fully subscribed, providing enough proof that the great IPO rush is continuing uninhibited among the investors. The IPO of app-based beauty and home services platform Urban Company got fully subscribed just hours after opening for bidding. The issue ended the day garnering 3.29 times subscription overall -- as much as 7.39 times in the retail category, 1.37 times in QIB (Ex Anchor), and 4.37 times in the NII category.

Jewellery firm Shringar House of Mangalsutra too was successful in attracting full subscription quickly. It ended the day with 2.01 times overall subscription. The public issue was subscribed 2.84 times in the retail category, 0.01 times in QIB (Ex Anchor), and 2.70 times in the NII category.

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Dev Accelerator IPO was the biggest hit on the first day, attracting 5.34 times subscription overall. It was subscribed as much as 19.60 times in the retail category, 1.16 times in QIB (Ex Anchor), and 4.46 times in the NII category.

Significantly, Urban Company raised Rs 854 crore from anchor investors, Dev Accelerator garnered Rs 63 crore and Shringar House of Mangalsutra mopped up Rs 120.18 crore from anchor investors.

Issue size: Rs 1,900 crore (Fresh issue of 4.58 crore shares and OFS of 13.86 crore shares)

Raised from anchor investors: Rs 854 crore

Price band: Rs 98-103

Lot size: 145 shares (retail category), 2,030 shares (sNII category), 9,715 shares (bNII category)

IPO open: September 10-12, 2025

GMP (Grey market Premium on September 11 morning): Rs 39

Indicative listing gain: 37.86%

Allotment date: September 15

Listing date: September 17 (BSE and NSE)

Lead manager: Kotak Mahindra Capital Co

Registrar: MUFG Intime India

Business: Set up in December 2014, Urban Company is a technology-driven, full-stack online marketplace offering home and beauty services and is active in India, the UAE and Singapore. Offers services such as cleaning, plumbing, electrical work, appliance repair, beauty treatments, and massage therapy.

Issue size: Rs 143.35 crore (Fresh issue of 2.35 crore shares)

Raised from anchor investors: Rs 63 crore

Price band: Rs 56-61

Lot size: 235 shares (retail category); 3,290 shares (sNII category); 16,450 shares (bNII category)

IPO open: September 10-12, 2025

GMP (Grey market Premium on September 11 morning): Rs 9

Indicative listing gain: 14.75%

Allotment date: September 15

Listing date: September 17 (BSE and NSE)

Lead manager: Pantomath Capital Advisors

Registrar: Kfin Technologies

Business: Dev Accelerator, popularly known as DevX, offers flexible office spaces, including coworking environments and is present in 15 centers across India including Delhi-NCR, Hyderabad, Mumbai, and Pune. Set up in 2017.

Issue size: Rs 400.95 (Fresh issue of 2.43 crore shares)

Raised from anchor investors: Rs 120.18 crore

Price band: Rs 155-165

Lot size: 90 shares (retail category); 1,260 shares (sNII category); 6,120 shares (bNII category)

IPO bidding process open: September 10-12, 2025

GMP (Grey market Premium on September 11 morning): Rs 29.50

Indicative listing gain: 17.88%

Allotment date: September 15

Listing date: September 17 (BSE and NSE)

Lead manager: Choice Capital Advisors

Registrar: MUFG Intime India

Business: Shringar House of Mangalsutra manufactures and markets a mangalsutra featuring various stones such as American diamonds, cubic zirconia, pearls, and semi-precious stones, using 18k and 22k gold. Set up in January 2009.