Unicommerce eSolutions Ltd made a strong debut on the NSE, with its shares getting listed at Rs 235 apiece, a remarkable premium of 117.6 percent over the IPO price of Rs 108. At close, the stock was down 10 percent at 211.50.
The IPO, a book-built issue of Rs 276.6 crore, was open for subscription from August 6 to August 8. The issue was subscribed 168.35 times by the last day of subscription. Retail investor portion was subscribed 130.9 times, Qualified Institutional Buyers (QIBs) 138.75 times, and Non-Institutional Investors (NIIs), 252.46 times.
The IPO is entirely an offer-for-sale of 2.6 crore shares. The price band for the IPO was set between Rs 102 and Rs 108 per share.
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IIFL Securities Ltd and CLSA India Pvt Ltd were the book-running lead managers for the IPO, with Link Intime India Pvt Ltd serving as the registrar.
Ahead of the public offering, the company raised Rs 124.5 crores from anchor investors on August 5.
Established in February 2012, Unicommerce eSolutions operates a SaaS platform that streamlines e-commerce operations for brands, sellers, and logistics providers. The company's suite of products includes a warehouse and inventory management system, multi-channel order management, omnichannel retail management, and a payment reconciliation system, among other tools.
In FY24, the company's revenue rose nearly 18 percent to Rs 109.4 crore and its profit after tax (PAT) rose 102 percent on year to Rs 13 crore.
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