Unicommerce eSolutions’ IPO Opens Today, Issue Size Rs 276 Cr

Unicommerce eSolutions’ IPO came into the Indian primary market today. The public issue will remain open until Thursday, 8th August 2024. The company has fixed the IPO price band at Rs 102 to Rs108 per equity share. The company aims to raise Rs 276.57 crore, entirely offered for sale (OFS).

SoftBank-backed SaaS platform Unicommerce eSolutions on Monday said it has got over Rs 124 crore from anchor investors ahead of its initial share sale opening for public subscription. State Bank of India  Mutual Fund (MF), ICICI Prudential MF, HDFC MF, Kotak MF, Nippon India MF, DSP MF, Aditya Birla Sun Life MF and Morgan Stanley Investment Management are among the anchor investors invested , as per a circular uploaded on BSE's website.

The company stated that 75 per cent of the issue size has been reserved particulary for qualified institutional buyers, 35 per cent for non-institutional investors, and the remaining 10 per cent for retail investors. A bidder can apply only in lots, and one lot comprises 138 shares.

Shares of Unicommerce eSolutions are also available in the grey market where its share price is quoted at a premium of Rs 41 in today's grey market, as per experts. 

At 11:06 AM on day one of bidding, the public issue had been subscribed 0.65 times, the retail portion of the book build issue had been booked 2.99 times, and the NII segment had been booked 0.38 times as per media reports.

Unicommerce eSolutions, founded in 2012, is India's leading e-commerce enablement software-as-a-service (SaaS) platform that serves a large base of clients in India, including Lenskart, Fabindia, Mamaearth, Emami, Sugar, BoAt, Portronics, Pharmeasy, Cello, Urban Company, Shiprocket and Xpressbees.