The initial public offering (IPO) of Urban Company Ltd. has generated considerable interest among investors ahead of listing. The Rs 1,900.24-crore mainboard issue has emerged as one of the most subscribed IPO of 2025 so far.

The IPO was overall booked nearly 104 times during the three-day subscription period from Sept. 10 to Sept. 12.

As the investors keep a watch on the grey market premium of the Urban Company IPO ahead of listing, the past trends of most subscribed issues in 2025 could give an indication about the performance of the stock after market debut.

Record Subscription Signals Investor Interest

The IPO saw massive subscription as investors applied for more than 1,106 crore shares against 10.67 crore shares on offer. The Qualified Institutional Buyers’ (QIB) category was subscribed more than 140 times, while the Non-Institutional Investors’ (NIIs) segment was booked 74 times. The retail portion was booked 39.25 times.

Overall, the IPO attracted bids worth around Rs 1.13 lakh crore against the issue size of Rs 1,900 crore, which is the largest bid amount recorded in 2025 so far.

While the Urban Company IPO saw robust demand, it is not alone in drawing overwhelming investor interest. So far this year, at least 12 IPOs have seen subscriptions above 100 times.

Most Subscribed IPOs Of 2025

  • Highway Infra: Issue Size: Rs 130 Cr | Subscription: 317x

  • Indo Farm: Issue Size: Rs 260 Cr | Subscription: 228x

  • Denta Water: Issue Size: Rs 221 Cr | Subscription: 222x

  • Quadrant Future: Issue Size: Rs 290 Cr | Subscription: 196x

  • Stallion India: Issue Size: Rs 199 Cr | Subscription: 188x

  • Standard Glass: Issue Size: Rs 410 Cr | Subscription: 185x

  • Regaal Resources: Issue Size: Rs 306 Cr | Subscription: 160x

  • GNG Electronics: Issue Size: Rs 460 Cr | Subscription: 150x

  • Borana Weaves: Issue Size: Rs 145 Cr | Subscription: 148x

  • Laxmi Dental: Issue Size: Rs 698 Cr | Subscription: 114x

  • Urban Company: Issue Size: Rs 1900 Cr | Subscription: 109x

  • Aditya Infotech: Issue Size: Rs 1300 Cr | Subscription: 106x

Listing Day Gains Vs. Post-Listing Performance

  • Highway Infra: Listing Gains: 73% | Since Listing: -28%

  • Aditya Infotech: Listing Gains: 60% | Since Listing: -32%

  • Quadrant Future: Listing Gains: 53% | Since Listing: Remained flat

  • GNG Electronics: Listing Gains: 41% | Since Listing: 7%

  • Stallion India: Listing Gains: 40% | Since Listing: 63%

  • Regaal Resources: Listing Gains: 29% | Since Listing: -19%

  • Indo Farm: Listing Gains: 29% | Since Listing: -8%

  • Laxmi Dental: Listing Gains: 29% | Since Listing: -44%

  • Borana Weaves: Listing Gains: 18% | Since Listing: -14%

  • Standard Glass: Listing Gains: 16% | Since Listing: 12%

  • Denta Water: Listing Gains: 16% | Since Listing: 14%

The stock price trends for IPOs in 2025 show that high subscription does not always ensure sustained gains after listing. Highway Infra, despite a 73% listing-day gain, has fallen around 28% since its market debut. Aditya Infotech, with a 60% listing jump, is down 32% post-listing. Quadrant Future’s 53% gain on trading debut has largely plateaued. On the other hand, shares of GNG Electronics, after a stellar debut at a 41% premium, are currently up around 7% since listing.

However, Stallion India has maintained strong post-listing growth, with returns of around 63%. Other newly listed IPOs show a mixed trend: Regaal Resources (-19%), Indo Farm (-8%), Laxmi Dental (-44%), Borana Weaves (-14%), Standard Glass (+12%) and Denta Water (+14%).

Urban Company GMP Signals Potential First-Day Gains

Given that Urban Company was subscribed 109 times, the grey market premium suggests a strong listing could be expected, potentially exceeding 60% on the first day. But past trends indicate that post-listing performance can be volatile, even for highly subscribed IPOs. Investors will be closely watching whether Urban Company can maintain momentum beyond its initial surge or follow the pattern of a few high-profile IPOs that saw a drop in stock price after a strong market debut.

Watch: Urban Company IPO Listing Analysed vs Top 10 Most Subscribed IPOs Of 2025

. Read more on Markets by NDTV Profit.Shares of Urban Company will list on BSE and NSE on Wednesday, September 17. The latest grey market premium (GMP) suggests a stellar listing for the mainboard issue.  Read MoreMarkets, IPOs, Trending ​NDTV Profit