Unicommerce eSolutions IPO Achieves Significant Subscription Success

The initial public offer of SoftBank-backed Unicommerce eSolutions received an overwhelming response, being subscribed 168.35 times on the last day of bidding. Various investor categories showed significant interest, with the IPO fully subscribed within hours of opening. The shares will be listed on BSE and NSE.

The initial public offer of SoftBank-backed Unicommerce eSolutions achieved a remarkable subscription rate of 168.35 times on the final bidding day, Thursday.

NSE data reveals that the IPO received bids for 2,37,11,72,994 shares against an offering of 1,40,84,681 shares. The non-institutional investor category saw a subscription rate of 252.46 times, while Qualified Institutional Buyers (QIBs) subscribed 138.75 times. Retail Individual Investors (RIIs) had a subscription rate of 130.99 times.

Opening for subscription on Tuesday, the IPO of Unicommerce eSolutions was fully subscribed within hours. The issue was priced between Rs 102-108 per share, with Unicommerce raising over Rs 124 crore from anchor investors as of Monday. The entire IPO is an offer-for-sale of up to 2.56 crore equity shares, valued at Rs 276.6 crore at the upper price band. Thus, all proceeds will be directed to selling shareholders. Founded in 2012, Unicommerce eSolutions offers SaaS solutions for e-commerce operations, serving a vast clientele including Lenskart, Fabindia, and Mamaearth. IIFL Securities and CLSA India managed the issue, with shares set to list on both the BSE and NSE.