Unicommerce eSolutions IPO: Shares list at premium of 118% in stellar D-Street debut

3 min read | Updated on August 13, 2024, 10:35 IST

SUMMARY

Unicommerce eSolutions IPO: The stock listed at ₹235 apiece on the National Stock Exchange (NSE), up around 118% as compared to the upper end of the IPO price band of ₹108.

Unicommerce eSolutions IPO: Share allotment expected today, sets to check status online

Shares of Unicommerce eSolutions were listed on BSE and the National Stock Exchange

Shares of SoftBank-backed Unicommerce eSolutions listed at a premium of 118% over the issue price on August 13, following an initial public offering (IPO) that recorded a bumper subscription of 168.35 times.

The stock opened at ₹235 apiece on the NSE, up around 118% as compared to the upper end of the IPO price band of ₹108.

On the BSE, the shares listed at ₹235 apiece, which marked a premium of 113%.

The listing day gains have surpassed the estimates shared by experts. Ahead of the Dalal Street debut, CNBC-TV18 had, citing market analysts, reported that the software-as-a-service (SaaS) platform could list at a premium in the range of 40%-60%.

Grey market trends shared by the news channel, citing analysts, showed that Unicommerce's shares were commanding a grey market premium (GMP) of 64% over the issue price of ₹108 per share.

Notably, readers are recommended not to follow the GMP trends as they pertain to the unofficial market and not regulated by a financial institution.

Also Read: Unicommerce eSolutions IPO allotment: Here's how to check status online

Strong IPO subscription

The initial share sale received bids for 2,37,11,72,994 shares against 1,40,84,681 shares on offer, as per NSE data. The IPO got fully subscribed within hours of opening for subscription on August 6.

The quota for non-institutional investors fetched 252.46 times subscription while the category for Qualified Institutional Buyers (QIBs) got subscribed 138.75 times. The portion for Retail Individual Investors (RIIs) received 130.99 times subscription.

The issue had a price band of ₹102-₹108 a share. The subscription window closed on August 8.

A day before the IPO was opened for subscription, Unicommerce said it garnered over ₹124 crore from anchor investors.

Entirely an OFS issue

The IPO was entirely an offer-for-sale (OFS) of up to 2.56 crore equity shares valued at ₹276.6 crore at the upper end of the price band. Therefore, the entire proceed will go to the selling shareholders.

Founded in 2012, the company's suite of SaaS solutions enables end-to-end management of e-commerce operations 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.

Disclaimer: This article is only for educational purpose. We do not recommend any particular stock, securities and strategies for trading. The securities quoted are exemplary and are not recommendatory. The stock names mentioned in this article are purely for showing how to do analysis. Take your own decision before trading and investing.

With PTI inputs

About The Author

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Unicommerce eSolutions IPO: Shares list at premium of 118% in stellar D-Street debut

Strong IPO subscription

Entirely an OFS issue

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