India, Sept. 12 -- The initial public offering of Urban Company Ltd. was subscribed nearly 30 times on the final day of share sale on robust demand from investors-small and large.

The retail portion, which is only 18% of the Urban Company IPO, was subscribed 29.43 times as of 1:09 pm on Friday, according to stock exchange data. Shares set aside for qualified institutional investors, more than half the IPO, was subscribed 19.25 times while the portion reserved for non-institutional investors was subscribed 51.80 times. Overall, the issue was subscribed 30.17 times.

According to InvestorGain, Urban Company's grey market premium was at Rs.45 as of 11:58 am on 12 September. That indicates a listing price of Rs.148-a premium of 43.69% over a...