Shares of Unicommerce will make their debut at the bourses today after blockbuster IPO. The issue of Softbank-backed Unicommerce, which has been witnessing an overwhelming response from the minute the issue was opened, 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 Rs. 102-108, was entirely an OFS. Under the OFS, SB Investment Holdings (UK) Ltd, an affiliate of Japan’s SoftBank, sold 1.61 crore shares, and promoter AceVector Ltd (formerly known as Snapdeal Limited) 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.