Unicommerce eSolutions IPO Subscribed 12.23 Times On Day 2

The initial public offering of SoftBank-backed Unicommerce eSolutions Ltd. was subscribed 12.23 times on Wednesday and 2.43 times on the opening day of its subscription on Tuesday. The IPO consists entirely of an offer for sale of up to 2.56 crore equity shares aggregating Rs 276.6 crore by the selling shareholders.

The price band ranges from Rs 102 apiece to Rs 108 per share, with minimum lot sizes of 138 shares. Unicommerce will not receive any proceeds from the offer and all the proceeds will be given to the selling shareholders.

The company raised Rs 124.4 crore via anchor investors, ahead of its IPO. The public issue will close on Aug. 8.

• Issue opens: Aug 6.

• Issue closes: Aug 8.

• Issue price: Rs 102 to Rs 108 per share.

• Offer for sale: Rs 276.6 crore.

• Total issue size: Rs 276.6 crore.

• Bid lot: 108 shares.

• Listing: BSE and NSE. 

Unicommerce's suite of SaaS solutions provides end-to-end management of e-commerce operations for brands, retailers, marketplaces and logistics service providers.

The company provides its services to 46 clients in Singapore, the Philippines, Indonesia, the UAE and Saudi Arabia. It also plans to expand their operations by adding more clients.

The IPO has been subscribed 12.23 times on Wednesday.

• Qualified institutional buyers: 0.80

• Non-institutional investors: 19.51 times.

• Retail investors: 35.57 times.