Unicommerce's IPO Sees Stellar Debut with 2.43 Times Subscription

The initial public offering of SoftBank-backed Unicommerce eSolutions Ltd was fully subscribed within hours and ended the day with 2.43 times subscription. Retail investors showed strong interest, while institutional buyers were less active. The IPO is an offer-for-sale valued at Rs 276.6 crore, with shares to be listed on the BSE and NSE.

The initial public offering of SoftBank-backed Unicommerce eSolutions Ltd saw a robust start as it was fully subscribed within hours of opening for subscription on Tuesday. By the day's end, the IPO achieved a subscription rate of 2.43 times, according to data from the NSE.

The IPO received bids for 34,237,386 shares against the 14,084,681 shares on offer, marking a 2.43 times subscription. The price band was set at Rs 102-108 per share, and the offer remains open for subscription from August 6th to 8th. Retail investors showed particularly strong interest, with a subscription rate of 9.97 times, while non-institutional investors subscribed at 2.26 times. The portion for Qualified Institutional Buyers (QIBs) saw less activity on the first day.

Unicommerce garnered Rs 124 crore from anchor investors on Monday. The IPO is entirely an offer-for-sale (OFS) comprising 25.6 million equity shares valued at Rs 276.6 crore at the upper price band. Proceeds from the sale will go to the selling shareholders, including SB Investment Holdings (UK) Ltd and AceVector Limited. Founded in 2012, Unicommerce is a leading e-commerce enablement SaaS platform serving notable clients such as Lenskart and Fabindia. Shares will be listed on both the BSE and NSE.