Urban Company shares slid nearly 6 percent to hit a record low after the three-month shareholder lock-in period ended. The expiry made around 4.15 crore shares, or about 3 percent of the company’s total equity, available for trading, leading to a sharp rise in supply.
This increase in tradable shares sparked selling pressure in the market. Urban Company, which provides home and personal care services through its app-based platform, had listed in September at a premium to its IPO price.
Since then, the stock has steadily lost ground as investor sentiment turned cautious following the lock-in expiry.