Unicommerce eSolutions IPO listing: Shares debut with a solid 117% premium

Unicommerce eSolutions IPO received massive participation from investors, being subscribed a whopping 168.35 times by the last date of subscription

Unicommerce eSolutions IPO listing: Shares of Unicommerce eSolutions made a stellar debut on the bourses - BSE and NSE - on Tuesday. On the BSE, the company's shares listed at Rs 230, a premium of 112.96 per cent from the upper end of the IPO issue price of Rs 108, yielding a return of Rs 122 per share for investors.

On the NSE, Unicommerce eSolutions shares also listed at Rs 235, 117.59 per cent above the issue price.

The grey market premium (GMP) of Unicommerce eSolutions IPO shares soared over 63 per cent ahead of its listing on Tuesday, indicating solid listing gains for investors.

This blockbuster performance far exceeded pre-listing expectations, fueled by the massive oversubscription of 168.35 times and a robust grey market premium, said Shivani Nyati, Head of Wealth at Swastika Investmart.

As per Nyati, the company's strong market position as a leading e-commerce enablement SaaS platform, coupled with its proven track record of profitable growth, solidified investor confidence. While challenges like competitive pressures and negative cash flows remain, Nyati believes that the initial market response highlights the immense potential of Unicommerce eSolutions in the burgeoning e-commerce ecosystem.

 

"This exceptional listing underscores the company's strong fundamentals and growth prospects. However, investors are advised to consider some profit booking at this level, and those who wish to hold may keep a stop loss at Rs 210," Nyati added.

Unicommerce eSolutions IPO details

Unicommerce eSolutions IPO was available in the price band of Rs 102-108 per share with a lot size of 138 shares. The company has fixed Rs 108 as the issue price for the IPO. 

The three-day subscription window for the Unicommerce eSolutions IPO closed on Thursday, August 8, 2024. The basis of allotment for the Unicommerce eSolutions IPO took place on Friday, August 9, 2024. The public issue received massive participation from investors, being subscribed a whopping 168.35 times by the last date of subscription. The NII category received the highest bid at 252.46 times, followed by QIB at 138.75 times, while the retail category was subscribed 130.99 times.

The public issue of Unicommerce eSolutions comprises a fresh issue of 25,608,512 shares, aggregating up to Rs 276.57 crore, and an offer for sale of 25,608,512 shares with a face value of Rs 2, worth Rs 276.57 crore. Unicommerce eSolutions raised Rs 124.46 crore from anchor investors on August 5, 2024.

About Unicommerce eSolutions

Incorporated in 2012, Unicommerce is India’s largest e-commerce enablement SaaS platform in transaction processing in terms of revenue for the financial year ended March 31, 2022. It enables end-to-end management of e-commerce operations for brands, sellers, and logistics service provider firms. According to information available on the company's official website, Unicommerce has a consistent client base, ARR, and revenue growth with a 790+ million annual transactions run-rate, along with 3,500+ e-commerce businesses, 8,600+ warehouses managed, and 2,700+ stores managed, processing orders through the Unicommerce platform as of the quarter ended March 31, 2024.