SoftBank-backed Unicommerce Raises Rs 124 Crore Ahead of IPO

Unicommerce eSolutions Ltd has raised over Rs 124 crore from anchor investors ahead of its IPO. The SaaS platform, supported by SoftBank, is set to allocate 1.15 crore shares to 14 funds. The IPO, entirely an offer for sale, will open for public subscription from August 6-8.

Unicommerce eSolutions Ltd, a SaaS platform backed by SoftBank, has successfully raised over Rs 124 crore from anchor investors prior to its initial public offering (IPO). Major contributors include SBI Mutual Fund, ICICI Prudential, and HDFC Mutual Fund, among others.

According to a circular on BSE's website, Unicommerce has allocated 1,15,23,831 equity shares to 14 different funds at Rs 108 per share, making the transaction worth Rs 124.46 crore. The IPO, with a price band of Rs 102 to Rs 108 per share, will be available for public subscription from August 6 to August 8.

The entire IPO is an offer for sale, amounting to 2.56 crore equity shares valued at Rs 276.6 crore at the upper end. SoftBank's affiliate, SB Investment Holdings (UK) Ltd, and promoter AceVector Limited will offload significant portions of their holdings. IIFL Securities and CLSA India are the lead managers for the IPO, and shares will be listed on BSE and NSE.

(With inputs from agencies.)