Day 1 bidding has closed for three closely watched issues—Urban Company, Dev Accelerator, and Shringar House of Mangalsutra—with healthy traction across categories. Here’s a concise, cited wrap of where subscriptions stand and how to read the signals heading into Day 2.
Urban Company: Around 3.1x overall on Day 1
- Multiple live trackers report Urban Company at roughly 3.1x subscribed by the end of Day 1, after being fully covered within hours. Category data through the day showed strong retail traction and improving QIB participation.
- Context: The ₹1,900 crore issue (₹98–₹103 band; 145-share lot) saw robust demand with rising pre-open GMP chatter; final outcomes still depend on institutional books by Day 3.
Dev Accelerator: Fully covered, roughly 2–4x range by Day 1 updates
- Exchange/press snapshots during the day showed the issue crossing full subscription early, with tallies cited between ~2.0x and ~4.0x by late updates; retail interest was the primary driver with double-digit coverage of the retail quota in some reports.
- Context: ₹56–₹61 band; 235-share lot; ₹143.35 crore fresh issue focused on fit-outs and debt reduction. Momentum into Day 2 will hinge on NII and QIB bids.
Shringar House of Mangalsutra: Around 2.0x on Day 1
- End-of-day trackers cited overall subscription near ~2.0x, with retail and employee quotas showing healthy interest; QIB build typically accelerates on Days 2–3.
- Context: ₹155–₹165 band; 90-share lot; ₹400.95 crore fully fresh issue. Pre-open GMP commentary suggested a modest premium, but treat GMP as unofficial and volatile.
How to interpret Day 1
- Early retail/HNI strength is positive, but QIB bids on Days 2–3 usually set the tone for final book quality and potential pricing at the cap. Watch category-wise data around the institutional window timing.
- GMP is only a sentiment signal; listing depends on market mood, final pricing, and institutional allocation mix. Use it cautiously.
What to do on Day 2
- If applying, bid and approve UPI mandates well before cut-offs to avoid timeouts; consider “cut-off” price if unsure.
- For multiple applications across issues, size lots based on risk, category caps, and observed subscription trends rather than chasing the highest GMP.
Key upcoming dates
- Subscription window: Sep 10–12, 2025 for all three issues.
- Basis of allotment: Sep 15; refunds/demat: Sep 16; tentative listing: Sep 17 (BSE & NSE). Track registrar portals for final confirmations.
Bottom line: Solid Day 1 interest across Urban Company (~3.1x), Dev Accelerator (~2–4x), and Shringar House (~2.0x) sets up a busy Day 2 as institutional books firm up. Keep bids timely, watch category splits, and anchor decisions to fundamentals and allocation strategy—not just GMP.