Urban Company shares surged 16% after SBI Mutual Fund acquired an additional 4% equity stake through bulk deals worth approximately 632 crore rupees.

Urban Company shares surged 16% after SBI Mutual Fund acquired an additional 4% equity stake through bulk deals worth approximately 632 crore rupees. The stock hit a session high of 127.30 rupees on the BSE before paring some gains to trade 14% higher at 125.35 rupees. SBI MF purchased shares at around 109.85 rupees per share across NSE and BSE exchanges, increasing its total stake from 1.89% to nearly 6%. Meanwhile, foreign investors including Wellington Hadley Harbor and DF International Partners exited their positions, offloading combined stakes worth 734 crore rupees. The buying interest from India's largest mutual fund comes as the mandatory lock-in period for pre-IPO shares expired, unlocking 66% of previously restricted shares for trading. Urban Company, which dominates the home services market with 65% estimated market share, recently reported a net loss of 21.