India, Sept. 17 -- Urban Company Ltd. surged 66.40% in a listing-day pop after an initial public offering that's the most subscribed in India so far this year.

At 10:00 am, the Urban Company share price stood at Rs.173.74, a premium 66.40% over the IPO price of Rs.103, even as the benchmark NSE Nifty 50 traded largely flat.

Earlier, shares of tech startup, which provides services from plumbing and house cleaning to massuers, were trading at a premium of at least 60% in the grey market, according to Investorgain.com and IPOcentral.in, which track informal price activity in the unregulated market.

The high premium underscores robust demand from both institutional and retail buyers in the offering, which was more than 100 times subscribed...