IPO-bound Unicommerce raises over Rs 124 Cr from anchor investors

Retail and ecommerce enablement SaaS firm Unicommerce has secured Rs 124.5 crore from its anchor investors, a day ahead of its IPO.

Of the total allocation of 1.15 crore equity shares priced at Rs 108 each for anchor investors, the firm has allocated a 75.75% portion (87.29 lakh equity shares) to eight domestic mutual funds through a total of 10 different schemes.

According to the filings, SBI Mutual Fund, Morgan Stanley, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Nippon Mutual Fund, and Kotak Mahindra Trustee have each bought 12.96 lakh equity shares worth Rs 14 crore.

The Prudential Assurance Company, Franklin India Technology Fund, Aditya Birla Sun Life Trustee, DSP Multicap Fund, and High Conviction Fund each acquired 7.49 lakh shares worth Rs 8.09 crore. 

The Snapdeal-backed startup's IPO will be available for subscription from August 6 until August 8.

Unicommerce’s IPO will not introduce any new shares but will consist entirely of an offer-for-sale (OFS) of 2.56 crore equity shares. As part of the OFS, AceVector Ltd (formerly Snapdeal Ltd) will sell up to 94.38 lakh equity shares, while SoftBank will offer up to 1.61 crore equity shares.

Also Read

SoftBank, Snapdeal expect massive returns from Unicommerce IPO

Snapdeal, part of the AceVector group and a major promoter of Unicommerce, holds a 38.2% stake in the company with an average share cost of Rs 23.52. It plans to sell up to 94.38 lakh shares in the offer-for-sale component, aiming for at least 4X returns.

Unicommerce's largest institutional shareholder SoftBank Group expects returns of over 3X by offering up to 1.61 crore shares, even if the company lists at the lower end of the price band, valuing it at approximately $120 million (around Rs 1,010 crore).

IIFL Securities Limited and CLSA India Private Limited are serving as the book running lead managers for the issue.