Mumbai: Urban Company created a big buzz on its first day in the stock market. The company’s IPO (Initial Public Offering) was listed on September 17 on both the BSE and NSE. The issue price was Rs 103 per share, but it opened much higher at Rs 162.25 per share. This gave investors an immediate listing gain of almost 60 percent, which is a huge return on the first day itself.

The Rs 1,900 crore IPO opened for subscription from September 10 to 12, and it received an overwhelming response. The IPO was subscribed more than 103 times in total. This means demand was over 100 times more than the number of shares available. Big institutional investors showed the most interest, but retail and high-net-worth investors also participated in large numbers.

Out of the total IPO amount, Urban Company raised Rs 472 crore as fresh issue, and the rest came through an Offer for Sale (OFS) of Rs 1,428 crore. The company plans to use the fresh funds for marketing initiatives and technology upgrades, which will help it grow faster. Before the IPO, Urban Company also raised Rs 854 crore from major anchor investors, including names like SBI Funds, HDFC Mutual Fund, Fidelity, Nomura, Goldman Sachs, and others.

Urban Company is a popular platform that offers home and beauty services. Customers can book services such as cleaning, pest control, plumbing, carpentry, electrical work, painting, beauty treatments, grooming, and massage therapy. The company currently operates in 51 cities across India, UAE, and Singapore, and it is also present in Saudi Arabia through a joint venture. Urban Company is growing quickly and aims to become a global leader in home services.

Mumbai: After three consecutive days of heavy rainfall that disrupted normal life across Mumbai and the Konkan belt, the India Meteorological Department (IMD) has forecast relatively moderate conditions for the city on Wednesday. While isolated spells of rain are likely to continue, the intensity is expected to ease compared to the last few days.

According to the IMD, Mumbai will experience cloudy skies with light to moderate showers throughout the day. A few pockets may receive slightly heavier spells, though widespread intense rainfall is not expected. Maximum temperature is likely to hover around 28°C, while the minimum may settle near 25°C. Winds will remain mild, offering some respite to residents who have battled waterlogging and traffic snarls since the weekend.

Neighbouring Thane and Navi Mumbai will see a similar pattern. Cloudy weather with drizzle and moderate rain at intervals has been forecast for both regions. Daytime temperatures will remain close to 28°C, while night temperatures are expected between 24°C and 25°C. Winds here, too, will be light to moderate in intensity.

In Palghar, no official weather alert has been issued. However, light to moderate rainfall is expected in parts of the district through the day. Skies will stay overcast, with maximum temperature near 28°C and minimum around 25°C.

Meanwhile, districts along the Konkan coast, Raigad, Ratnagiri and Sindhudurg, remain under a yellow alert. The IMD has cautioned residents to expect heavy showers in isolated areas, accompanied by gusty winds along coastal stretches. Cloudy skies will dominate the day, and rainfall could be more intense compared to Mumbai and Thane. In these districts, the maximum temperature may touch 29°C, with minimum temperatures likely to remain close to 25°C.

Mumbai: The Brihanmumbai Municipal Corporation (BMC) is currently struggling to find contractors to operate 153 ICU beds across its 12 suburban hospitals. Due to the lack of bidders, the civic body has had to extend the tender deadline four times.

The main reason cited for contractors’ reluctance is the steep rise in penalty clauses introduced in the tender, where the penalty amount has been increased by 100 times.

BMC has decided to outsource the management of 153 ICU beds in its 12 suburban hospitals to private operators. Accordingly, a tender was issued on July 25. In the first round, only one company showed interest. Since there was just one bidder, BMC extended the deadline. However, no further interest was shown by contractors, forcing the civic body to extend the tender date four times within just two months.

In the new tender, the BMC has increased the penalty amount by 100 percent. Earlier, if a doctor was absent in a shift, the contractor not only faced salary deductions but also had to pay a fine of Rs 1,000. Now, the fine has been raised to Rs 10,000 per shift. If the same mistake occurs more than 10 times, the penalty will further increase to Rs 1 lakh per shift.

Under a two-year contract, the BMC plans to spend Rs 3,367 per ICU bed per day. For operating 153 ICU beds in 12 suburban hospitals with the help of specialists, the administration will incur a total expenditure of Rs 33 crore 5 lakh 5 thousand 200.

Earlier, the Health Department of the Brihanmumbai Municipal Corporation (BMC) instructed four peripheral hospitals to manage their Medical Intensive Care Units (MICU) and Surgical Intensive Care Units (SICU) with internal resources after the outsourcing contract expired on August 30, despite being granted an extension.

A senior health department official confirmed that the ICU beds reserved at these hospitals will now be operated by the hospital staff themselves.

According to a senior civic official, this is only a temporary measure, as the process of appointing a new contractor is expected to be completed within the next one to two months.

However, several health experts, including doctors from BMC-run hospitals, have questioned the need for outsourcing ICU services altogether.

“For the last two weeks, hospitals have been managing ICU beds with their own resources. This can continue, and there is no real need to outsource them,” said a doctor on condition of anonymity.