Urban Company shares nearly double from IPO in 4 days
What's the story
Urban Company Ltd.'s shares have witnessed a remarkable surge since their debut on the stock exchange. The company's stock price has almost doubled from its initial public offering (IPO) price of ₹103 in just four trading sessions. On Monday, the share price hit an intraday high of ₹201.18, coming close to the ₹206 mark which would have meant a 100% return from its IPO price.
Market debut
Trading volumes for Urban Company have also been impressive
Urban Company's shares made their market debut with a bang last week, ending the day with a 62% gain over their issue price. The stock continued its upward trajectory with a 2% rise on Thursday and another 9% surge on Friday. The trading volumes for Urban Company have also been impressive, with nearly eight crore shares changing hands within two hours of Monday's session.
Official words
'We want to be the operating system for your home'
"We think of ourselves as a home platform. Anything inside your home is definitely relevant for us. We want to be the operating system for your home, the backbone for your home," Abhiraj Bhal, MD and CEO, Urban Company, told CNBC-TV18 Last Friday, nearly 13 crore shares were traded after a whopping 19 crore on its debut at the bourses on September 17.