Urban Company's ₹1,900-crore IPO saw record 103.6x bids, led by QIBs (140x). Grey market premium of ₹68.5 hints at 66% listing gains over issue price ₹103. Shares list September 17 (BSE + NSE). Backed by Tiger Global, Accel, and Naspers, the platform posted FY25 profit aided by tax credits.