The initial public offering of SoftBank-backed Unicommerce eSolutions Ltd. became the second biggest in terms of subscription so far in 2024, after it secured bids of 168.35 times on its third and final day on Thursday. The bids were led by non-institutional investors and institutional investors.
The IPO trailed the one of Vibhor Steel Tubes Ltd., which hit the primary market in February and was subscribed 298.86 times.
The offering was subscribed 12.23 times on Wednesday and 2.43 times on the opening day of its subscription on Tuesday. The IPO consists entirely of an offer for sale of up to 2.56 crore equity shares aggregating Rs 276.6 crore by the selling shareholders.
The price band ranges from Rs 102 apiece to Rs 108 per share, with minimum lot sizes of 138 shares. Unicommerce will not receive any proceeds from the offer and all the proceeds will be given to the selling shareholders.
The company raised Rs 124.4 crore via anchor investors, ahead of its IPO.
Issue Details
Issue opens: Aug. 6.
Issue closes: Aug 8.
Issue price: Rs 102 to Rs 108 per share.
Offer for sale: Rs 276.6 crore.
Total issue size: Rs 276.6 crore.
Bid lot: 108 shares.
Listing: BSE and NSE.
Business
Unicommerce's suite of SaaS solutions provide end-to-end management of e-commerce operations for brands, retailers, marketplaces and logistics service providers.
The company provides its services to 46 clients in Singapore, the Philippines, Indonesia, the UAE and Saudi Arabia. It also plans to expand their operations by adding more clients.
Subscription Status: Day 3
The IPO has been subscribed 168.35 times as of 5:30 p.m. on Thursday.
Qualified institutional buyers: 138.75 times.
Non-institutional investors: 252.46 times.
Retail investors: 130.99 times.
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