Tech startup Urban Company Ltd.’s $216 million initial public offering drew bids for more than 100 times the shares offered, making it the most subscribed share sales in India this year among those that raised $100 million or more.
The IPO attracted strong interest from both foreign and domestic institutional investors, while the portions reserved for high net worth individuals and retail investors were also fully subscribed.
The firm, which provides household services from plumbing and house cleaning to masseurs through its mobile app, raised $97 million from large investors including funds managed by Norges Bank Investment Management, Fidelity, Nomura ...
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