Unicommerce E-Solutions’ initial public offering (IPO) received 12.22 times subscription on the second day on Wednesday. This company is backed by SoftBank. According to data available with the National Stock Exchange (NSE), the IPO received bids for 17,20,68,750 shares against 1,40,84,681 shares. According to Bhasha’s news, retail individual investors (RIIs) received 35.54 times subscription, while non-institutional investors received 19.50 times subscription. The stock may be listed on August 13.
The price band is Rs 102-108 per share
According to the news, 80 per cent subscription was received for qualified institutional buyers (QIBs). Unicommerce E-Solutions’ initial public offering (IPO) got full subscription within a few hours of opening for subscription on Tuesday. The issue with a price band of Rs 102-108 per share is open for public subscription from August 6-8. Unicommerce E-Solutions had said on Monday that it has raised over Rs 124 crore from anchor investors. The issue is entirely an offer-for-sale (OFS) of 2.56 crore equity shares, priced at Rs 276.6 crore at the upper end of the band. Therefore, the entire proceeds will go to the selling shareholders.
How many shares will be sold
Under the OFS, SB Investment Holdings (UK) Ltd, an affiliate of Japan’s SoftBank, will sell up to 1.61 crore shares and promoter AceVector Ltd (formerly known as Snapdeal Ltd) 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.
Know the company
It serves a large and growing base of clients in India including Lenskart, Fabindia, Zivame, TCNS, Mamaearth, Emami, Sugar, Boat, Portronics, Pharmacy, Cello, Urban Company, Mensa, Shiprocket and Xpressbees. IIFL Securities and CLSA India are the book-running lead managers to the issue. The company’s shares will be listed on the BSE and the National Stock Exchange.
Latest Business News
