The public offer of Unicommerce eSolutions witnessed strong traction from investors and was subscribed 168.39 times on its final day of bidding (August 8), led by qualified institutional buyers and non-institutional bidders.
Non-institutional investors took the lead, buying 252.48 times the portion set aside for them, and qualified institutional buyers took the second position, picking 138.75 times the allotted quota. Retail investors also showed strong interest, subscribing 131.15 times the reserved portion.
The software products provider opened its public issue on August 6, targeting to mobilise Rs 276.57 crore via an offer-for-sale. The price band for the offer has been fixed at Rs 102-108 per share.
The issue was subscribed 12.23 times at the end of the second day of bidding on August 7, the subscription data available with the exchanges showed.
Unicommerce eSolutions is a SaaS platform that manages e-commerce operations for brands, sellers, and logistics service firms. The company has already raised Rs 124.5 crore through its anchor book on August 5, with institutional investors such as Morgan Stanley, ICICI Prudential Mutual Fund, SBI Mutual Fund, HDFC Mutual Fund, Aditya Birla Sun Life Trustee, Franklin India Technology Fund, and DSP Multicap Fund participating.
The entire proceeds from the issue will go to the selling shareholders, promoter AceVector, and investor SB Investment Holdings (UK), with the company not receiving any funds from the public issue.
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