SoftBank-backed Unicommerce eSolutions Ltd Soars Nearly 96% on Market Debut

Unicommerce eSolutions Ltd, backed by SoftBank, made a remarkable entrance into the market on Tuesday, closing with a premium of nearly 96% against its issue price of Rs 108. Despite a weak equity market trend, the firm's shares rose significantly on both BSE and NSE, reflecting strong initial demand.

Unicommerce eSolutions Ltd, a SoftBank-backed entity, saw an extraordinary debut on the stock market on Tuesday. Closing with a near 96% premium on its issue price of Rs 108, the company's shares demonstrated strong investor interest.

The stock opened at Rs 230 on the BSE, a 112.96% surge from its issue price. It peaked at Rs 256.15 intra-day before settling at Rs 210.05, up 94.49%. On the NSE, the stock debuted at Rs 235, an increase of 117.59%, and closed at Rs 211.50, up 95.83%.

The stock's robust performance came despite a downward trend in the broader equity market, with the BSE Sensex falling by 692.89 points and the NSE Nifty dropping by 208 points. Unicommerce’s IPO was oversubscribed 168.35 times, reflecting substantial demand from investors.

(With inputs from agencies.)