India, Sept. 11 -- The initial public offering of Urban Company Ltd. was subscribed nearly seven times on the second 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 14.56 times as of 1:54 pm, according to stock exchange data. Shares set aside for institutional investors, more than half the IPO, was subscribed 1.36 times while the NII portion was subscribed 12.91 times. Overall, the issue was subscribed 6.93 times.

The latest grey market premium for the Urban Company IPO was Rs.39 as of 9:30 am on 11 September. That indicates a listing price of Rs.142-a premium of 37.86%. The unlisted shares were trading at Rs.139.5 when the IPO opened for s...