Unicommerce eSolutions IPO subscribed 12.22 times on Day 2 of share sale

The initial public offer of SoftBank-backed Unicommerce eSolutions got subscribed 12.22 times on Wednesday, the second day of subscription.

The IPO received bids for 17,20,68,750 shares against 1,40,84,681 shares on offer, according to data available with the NSE.

The portion for Retail Individual Investors (RIIs) attracted 35.54 times subscription while the quota for non-institutional investors got subscribed 19.50 times. The Qualified Institutional Buyers (QIBs) part received 80 per cent subscription.

The initial public offering (IPO) of Unicommerce eSolutions got fully subscribed within hours of opening for subscription on Tuesday.

The issue, with a price band of Rs 102-108 a share, is open for public subscription from August 6-8.

Unicommerce eSolutions on Monday said it has garnered over Rs 124 crore from anchor investors.

The issue is entirely an offer-for-sale (OFS) of up to 2.56 crore equity shares valued at Rs 276.6 crore at the upper end of the price band. Therefore, the entire proceed will go to the selling shareholders.

Under the OFS, SB Investment Holdings (UK) Ltd, an affiliate of Japan's SoftBank, will offload 1.61 crore shares, and promoter AceVector Limited (formerly known as Snapdeal Limited) 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.

It serves a large and growing base of clients in India, including Lenskart, Fabindia, Zivame, TCNS, Mamaearth, Emami, Sugar, BoAt, Portronics, Pharmeasy, Cello, Urban Company, Mensa, Shiprocket and Xpressbees.

IIFL Securities and CLSA India are the book-running lead managers to the issue.

Shares of the company will be listed on BSE and the National Stock Exchange.