Urban Company Shares Rebound 8% as Lock-in Period Concludes
Urban Company's stock surged up to 8% on Wednesday, closing at ₹162.45, marking a 9% gain and ending a five-day decline. The rebound coincides with the expiry of the one-month shareholder lock-in period on October 16, which will make 4.15 crore shares (3% of outstanding equity) valued at approximately ₹651 crore eligible for trading. Despite recent volatility, the stock remains above its IPO price of ₹103.00, though it has declined 26% from its post-listing high of ₹201.00.
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Urban Company 's stock saw a significant upturn on Wednesday, marking the end of a challenging period for the newly listed company. The home services platform's shares gained up to 8%, breaking a five-day losing streak that had pushed the stock below its initial listing price.
Stock Performance
| Metric | Value |
|---|---|
| Day's Gain | Up to 8% |
| Closing Price | ₹162.45 |
| Closing Gain | 9.00% |
| Previous Decline | 12.00% over 5 sessions |
| Intraday Low | ₹149.69 |
| Decline from Post-listing High | 26.00% |
| Post-listing High | ₹201.00 |
| Listing Price | ₹162.00 |
| IPO Price | ₹103.00 |
Lock-in Period Expiry
The rebound coincides with a significant event for Urban Company shareholders. October 16 marks the end of the company's one-month shareholder lock-in period, which will have notable implications:
- 4.15 crore shares (3% of outstanding equity) will become eligible for trading
- The newly tradable shares are valued at approximately ₹651 crore
IPO Performance
Urban Company's initial public offering (IPO) was notably successful:
- Shares debuted at a significant premium to the issue price of ₹103.00
- The stock nearly doubled in value before the recent correction
This recent price movement underscores the volatility often associated with newly listed stocks, particularly as lock-up periods expire. Investors will be watching closely to see how the increased trading eligibility of shares impacts the stock's performance in the coming days and weeks.
Historical Stock Returns for Urban Company
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +8.99% | +2.25% | -1.58% | -1.58% | -1.58% | -1.58% |
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