Urban Company Stock Jumps 18% as SBI Mutual Fund Boosts Stake with ₹600 Crore Investment
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Urban Company Shares Soar 18% as SBI MF Boosts Stake with ₹600 Crore Purchase
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CNBC TV18•18-03-2026, 12:44
Urban Company Shares Soar 18% as SBI MF Boosts Stake with ₹600 Crore Purchase
•Urban Company shares surged 18% after SBI Mutual Fund acquired shares worth ₹632.2 crore, increasing its stake to nearly 4% of outstanding equity.
•The purchase by SBI MF followed a large block deal where three entities, including DF International II Fund and Wellington Hadley Harbor, offloaded approximately 4.6% of the company's equity.
•DF International II Fund and Wellington Hadley Harbor exited the company, while ABG Capital sold a 1.2% stake.
•The block deal occurred after the six-month lock-in period for shareholders ended, freeing up 66% of the total outstanding shares.
•Despite an initial post-listing surge, Urban Company's stock had previously fallen below its IPO price due to profitability concerns and investments in its Instahelp service.
