India, Sept. 10 -- Hyperlocal services company Urban Company saw a decent start to its IPO, led by interest from retail investors. The retail portion of the public issue was oversubscribed 1.3X at 10:45, receiving bids for 2.6 Cr shares against 1.9 Cr shares reserved for them.

The portion reserved for employees was also oversubscribed 1.53X, receiving bids for 4.3 Lakh shares against 2.8 Lakh shares on Offer.

Qualified institutional buyers (QIBs) placed bids for 1.1 Cr shares against 5.8 Cr shares reserved for them, resulting in 20% subscription. Meanwhile, non-institutional investors (NIIs) bid for 2.3 Cr shares against 2.9 Cr shares on offer. The portion reserved for NIIs was subscribed 80%.

Overall, the issue was subscribed 57%, wit...