Unicommerce eSolutions IPO fully subscribed within hours of opening on Day 1; check key details

Unicommerce eSolutions IPO was fully subscribed within a couple of hours of the initial share sale opening for bidding on Tuesday, August 6.

The issue received bids for 1.45 crore equity shares against 1.40 crore shares on offer, leading to a 1.03 times subscription on day 1 so far.

The quota set aside for retail investors received the most bids, with 4.68 times the subscription. The non-institutional investors (NIIs) portion was subscribed 0.66 times.

The qualified institutional buyers (QIBs) category has not received any bids yet.

Unicommerce mobilises ₹124 crore from anchor investors

On Monday, SoftBank-backed SaaS platform Unicommerce eSolutions mobilised more than ₹124 crore from anchor investors, including SBI Mutual Fund (MF), HDFC MF, Kotak MF, ICICI Prudential MF, DSP MF, Nippon India MF, Aditya Birla Sun Life MF, Franklin Templeton Fund and Morgan Stanley Investment Management.

The company allotted 1.15 crore shares to 14 funds at ₹108 apiece, taking transaction size to ₹124.46 crore.

The IPO, which has set a price band of ₹102 to ₹108 per share, is live from August 6 to August 8.

The ₹276.6 crore public offer is solely an offer for sale (OFS) of 2.56 crore equity shares.

Since the IPO is completely an OFS, the proceeds will go to the selling shareholders, which include Softbank's affiliate SB Investment Holdings (UK) Ltd and promoter AceVector Limited.

About Unicommerce eSolutions

Established in 2012, Unicommerce eSolutions is among the top e-commerce enablement software-as-a-service (SaaS) platforms in India. The company's suite of SaaS solutions allows brands, marketplaces, retailers, and logistics service providers to manage e-commerce operations end-to-end.

Its clients include Lenskart, Zivame, Fabindia, Mamaearth, TCNS, Emami, Sugar, Portronics, BoAt, Pharmeasy, Cello, Mensa, Shiprocket, Urban Company and Xpressbees.

CLSA India and IIFL Securities are the book-running lead managers for the issue. The company's shares will be listed on the BSE and the National Stock Exchange (NSE).