Urban Jumps 62% in India’s Best Trading Debut This Year (1)

Urban Co. soared in its Mumbai trading debut, resulting in the best opening day for any major company that went public in India this year.

Shares of the rent-a-service marketplace surged 62% to close at 166.83 rupees on Wednesday. The gain edged out that of Aditya Infotech Ltd. as the biggest first-day rally among all Indian IPOs sized $100 million or above, according to data compiled by Bloomberg.

Urban Co. executives at the company’s listing ceremony in Mumbai on Sept. 17.

Photographer: Indranil Aditya/Bloomberg

“Urban’s success is reflection of demand for consumer technology companies that are increasingly making inroads in people’s lives,” said Astha Jain, an analyst with Hem Securities Ltd.

More broadly, ...