Unicommerce eSolutions on Monday said it has raised over Rs 124 crore from key investors. | Photo: X(@Unicommerce)
The initial public offering of Unicommerce eSolutions, backed by SoftBank, was subscribed 12.22 times on Wednesday, the second day of subscription.
According to NSE data, bids were received for 17,20,68,750 shares during the IPO, against 1,40,84,681 shares offered.
The Retail Individual Investors (RIIs) portion attracted 35.54 times subscription while the non-institutional investors quota received 19.50 times subscription. The Qualified Institutional Buyers (QIBs) portion received 80 percent subscription.
Unicommerce eSolutions’ initial public offering (IPO) was fully booked within hours of opening subscription on Tuesday.
The issue, priced at a range of Rs 102-108 per share, will be open for public subscription from August 6 to 8.
Unicommerce eSolutions on Monday reported that it has raised over Rs 124 crore from key investors.
The issue is entirely an offer-for-sale (OFS) of up to 2.56 crore equity shares worth Rs 276.6 crore at the upper end of the price band. Therefore, the entire proceeds will go to the selling shareholders.
Under the OFS, SB Investment Holdings (UK) Ltd, a subsidiary of Japan’s SoftBank, will sell 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 offers a range of SaaS solutions that enable end-to-end management of e-commerce operations for brands, retailers, marketplaces and logistics providers.
The company serves a large and growing customer base 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 for the issuance.
The company’s shares are listed on the BSE and the National Stock Exchange.
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First print: Aug 07, 2024 | 10:13 PM IST