Unicommerce eSolutions IPO Day 3: The initial public offering (IPO) of SoftBank-backed Unicommerce eSolutions has been closed at 5 pm on Thursday. On the final day of bidding on Thursday, the 276.57-crore IPO received a whopping 168.35 times subscription, garnering bids for 2,37,11,36,286 shares as against 1,40,84,681 shares on offer.
According to the latest data, the retail quota received a 130.98 times subscription, while the non-institutional investors category also got a 252.45 times subscription. The QIB category received a 138.75 times subscription.
The Unicommerce eSolutions IPO was opened on August 6. Its price band was fixed at Rs 102-Rs 108 apiece. The share allotment will likely be finalised on August 9, while its listing will take place on both BSE and NSE on August 13.
Unicommerce eSolutions IPO GMP Today
According to market observers, unlisted shares of Unicommerce eSolutions Ltd are trading Rs 55 higher in the grey market than their issue price. The Rs 55 grey market premium or GMP means the grey market is expecting a 50.93 per cent listing gain from the public issue. The unlisted shares of Unicommerce eSolutions are trading at Rs 163 apiece in the grey market as against its upper issue price of Rs 108.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Unicommerce eSolutions IPO: Details
The Unicommerce eSolutions IPO is entirely an offer-for-sale (OFS) of up to 2.56 crore equity shares valued at Rs 276.6 crore at the upper end of the price band. Therefore, the entire proceed will go to the selling shareholders.
Under the OFS, SB Investment Holdings (UK) Ltd, an affiliate of Japan’s SoftBank, will offload 1.61 crore shares, and promoter AceVector Limited (formerly known as Snapdeal Limited) will sell up to 94.38 lakh shares.
Founded in 2012, the company’s suite of SaaS solutions enables end-to-end management of e-commerce operations for brands, retailers, marketplaces, and logistics service providers.
It serves a large and growing base of clients in India, including Lenskart, Fabindia, Zivame, TCNS, Mamaearth, Emami, Sugar, BoAt, Portronics, Pharmeasy, Cello, Urban Company, Mensa, Shiprocket and Xpressbees.
IIFL Securities and CLSA India are the book-running lead managers to the issue.
Shares of the company will be listed on BSE and the National Stock Exchange.
The Unicommerce eSolutions IPO was fully subscribed within hours of opening for subscription on Tuesday. On the second day, on Wednesday, the IPO received 12.22 times subscription.
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