Shares of Unicommerce Esolutions made a stellar debut at the bourses on Tuesday by gaining over 100 per cent after a blockbuster IPO. Against the IPO price of ₹108, the stock listed with 113 per cent gains at ₹230 on the BSE. It further rose to a high of ₹256.15 and settled at ₹210.05, up 95 per cent over the IPO price. On the NSE, the stock made its debut at ₹235, rallying 117.59 per cent. It ended at ₹211.50, reflecting a jump of 95.83 per cent.

The issue of Softbank-backed Unicommerce received a whopping subscription of 168.39 times. QIB portion was subscribed 138.75 times and NIIs, the most aggressive, received bids for 258.48 times. The quota for retail investors was subscribed 131.15 times.

IPO details

Unicommerce, which came out with a price band of ₹102-108, was entirely an OFS. Under the OFS, SB Investment Holdings (UK), an affiliate of Japan’s SoftBank, sold 1.61 crore shares, and promoter AceVector Ltd (formerly Snapdeal Ltd ) offloaded 94.38 lakh shares.

Earlier, Unicommerce eSolutions had garnered over ₹124 crore from anchor investors. It had allotted 1.15 crore shares to 14 funds at ₹108 a share. SBI Mutual Fund (MF), ICICI Prudential MF, HDFC MF, Kotak MF, Nippon India MF, DSP MF, Aditya Birla Sun Life MF, Morgan Stanley Investment Management, and Franklin Templeton Fund are among the investors who participated in the anchor book.

Founded in 2012, Unicommerce eSolutions is India’s leading e-commerce-enablement software-as-a-service (SaaS) platform. The company’s suite of SaaS solutions enables end-to-end e-commerce operations management for brands, retailers, marketplaces, and logistics service providers.

It serves a large and growing base of clients in India, including Lenskart, Fabindia, Zivame, TCNS, Mamaearth, Emami, Sugar, BoAt, Portronics, Pharmeasy, Cello, Urban Company, Mensa, Shiprocket, and Xpressbees.

IIFL Securities and CLSA India were the book-running lead managers to the issue.

Published on August 13, 2024