August 13, 2024
New Delhi, India
IPO Listing
Unicommerce eSolutions made a spectacular debut on the stock exchanges today, August 13, with its shares listing at ₹235 on the National Stock Exchange (NSE), marking an impressive 117.59% premium over its initial public offering (IPO) price of ₹108. On the Bombay Stock Exchange (BSE), the stock listed at ₹230, reflecting a 112.96% premium, underscoring the strong demand and investor enthusiasm for the company’s shares.
IPO Details:
- IPO Subscription: The ₹276.57 crore IPO, which was open for subscription from August 6-8, was met with overwhelming demand. The IPO was subscribed a remarkable 168.35 times, with investors bidding for 237.11 crore shares against the 1.4 crore shares on offer.
- Investor Category Breakdown:
- Non-Institutional Investors (NIIs): The NII portion was the most sought after, being subscribed 252.46 times.
- Qualified Institutional Buyers (QIBs): QIBs demonstrated strong interest as well, with this category subscribed 138.75 times.
- Retail Investors: The retail portion was not far behind, being subscribed a significant 130.99 times.
FirstCry IPO Makes a Strong Market Debut, Shares List at 40% Premium on NSE
Offer for Sale (OFS): The IPO of Unicommerce eSolutions was entirely an Offer for Sale (OFS), with up to 2.56 crore shares being offered by existing shareholders, AceVector Ltd and SB Investment Holdings (UK). As a result, the company will not receive any proceeds from the IPO, as it is solely an OFS transaction.
IPO Allocation:
- The share allocation in the IPO was structured with approximately 75% reserved for qualified institutional buyers, 10% for retail investors, and the remaining 15% for non-retail investors.
Company Overview: Founded in February 2012, Unicommerce eSolutions operates as a Software as a Service (SaaS) platform, providing solutions to manage e-commerce operations for brands, sellers, and logistics providers. The company offers a comprehensive suite of software products designed to streamline post-purchase e-commerce processes. Unicommerce serves a wide array of clients in India, including prominent names like Lenskart, Fabindia, Zivame, Mamaearth, and many others. Additionally, the company has a growing international presence, with clients in six other countries, primarily in South East Asia and the Middle East.
Financial Performance: For the fiscal year ending March 31, 2024, Unicommerce reported a net profit of ₹13.08 crore, a significant increase from ₹6.48 crore the previous year. The company’s revenue for FY24 also saw growth, rising to ₹109.43 crore from ₹92.97 crore in FY23.
Disclaimer:
CurrencyVeda provides this news article for informational purposes only. We do not offer investment advice or recommendations. Before making any investment decisions, please conduct thorough research, consult with financial experts, and carefully consider your financial situation, risk tolerance, and investment goals. Investing in the stock market carries risks, and it’s essential to make informed choices based on your individual circumstances. CurrencyVeda is not liable for any actions taken based on the information provided in this article.
