Unicommerce ESolutions Raises Rs 124.4 Crore Via Anchor Investors Ahead Of IPO

Unicommerce eSolutions Ltd. has raised Rs 124.4 crore from anchor investors, ahead of its initial public offering. The company allotted 1.15 crore shares at Rs 108 apiece to 14 anchor investors.

State Bank of India Technology Opportunities Fund, ICICI Prudential Technology Fund, and Nippon Life Mutual Fund A/C Nippon Equity Hybrid got the highest allocation of 11.25%.

Morgan Stanley India Investment Fund, Inc. secured 7.23%; and The Prudential Assurance Co., Franklin India Technology Fund, DSP Multicap Fund, and High Conviction Fund-Series One, with 6.5% allocation each, are among the other marquee investors in the pre-IPO round fundraising.

Eight domestic mutual funds have applied through a total of 10 schemes, Unicommerce eSolutions said in an exchange filing on Monday. They have collectively secured 75.75% of the anchor portion for Rs 94.2 crore.

SBI Mutual Fund, Nippon Mutual Fund, and ICICI Mutual Fund are among the key investors in this category.

The leading book managers for the anchor round were IIFL Securities Pvt. and CLSA India Pvt.

About Unicommerce eSolutions

Unicommerce eSolutions will launch its initial public offering on Tuesday to raise up to Rs 276.6 crore. The issue will close on Aug. 8.

The SaaS solutions company has set a price band of Rs 102 to Rs 108 per share for its three-day IPO. The public issue is entirely an offer for sale of up to 2.56 crore equity shares.

The minimum lot size for bidding will be 138 shares, with further bids to be made in multiples, according to the price-band advertisement released by the company on Thursday.

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