Unicommerce eSolutions Ltd.'s shares jumped over 130% from its issue price on Tuesday right after debuting on the exchanges.
The stock listed at Rs 235 per share on National Stocks Exchange Ltd., at a premium of 117.5% over its issue price of 108 apiece. On BSE, Unicommerce eSolutions stock listed at Rs 230 apiece, indicating a premium of 112.9%.
Its initial public offering was subscribed 168.35 times on the final day to become the second-highest subscribed IPO in 2024. The offering opened on Aug. 6, and closed on Aug. 8. Mostly institutional and non-institutional investors led the bid of SoftBank-backed Unicommerce eSolutions.
Compared to the issue price, Unicommerce eSolutions jumped 137.18% to Rs 255.99 apiece. From its listing price of Rs 235 on NSE, it has risen 8.931% so far in the day. As of 12:16 p.m., the stock was trading 108.31% higher at Rs 224.97 apiece.
Unicommerce's suite of SaaS solutions provide end-to-end management of e-commerce operations for brands, retailers, marketplaces and logistics service providers. The company conducts businesses in Philippines, Indonesia, UAE, and Saudi Arabia, and aims to further expand the reach of its service.
SaaS stands for software as service, in which a software is accessed online through subscription rather installing in an individual computer.
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