Unicommerce IPO: Issue subscribed 168 times on final day; highest among startups this year

The public offering of Unicommerce saw remarkable interest from investors, becoming the most subscribed startup IPO yet in India this year. On the final day of bidding, the offer was subscribed 168.32 times, driven by strong demand from non-institutional and retail investors, surpassing Awfis IPO's record of 108X subscriptions.

As of 5:00 PM on August 8, the non-institutional investor category saw maximum interest with 96.9 crore bids, oversubscribing the 38 lakh shares on offer by 252.44 times.

Investors made more than 237 crore bids, far exceeding the 1.40 crore equity shares offered for subscription.

The IPO's retail segment has been oversubscribed by 130.86 times, receiving 33.5 crore bids against 25 lakh shares on offer.

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The Unicommerce IPO, with a price band fixed at Rs 102 to Rs 108 apiece, saw greater interest from qualified institutional buyers on the third day of its bidding, with the portion getting subscribed 138.75X.

Meanwhile, Unicommerce is currently commanding a grey market premium of Rs 50-52.

On the initial day of bidding, the issue was subscribed to 2.43 times the number of shares offered.

The Delhi-based SaaS company has secured Rs 124.5 crore from its anchor investors. Of the 1.15 crore equity shares offered at Rs 108 each, 75.75% (87.29 lakh shares) have been allocated to eight domestic mutual funds across 10 different schemes.

Some of the key investors include SBI Mutual Fund, Morgan Stanley, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Nippon Mutual Fund, and Kotak Mahindra Trustee.

The SoftBank-backed company's IPO consists entirely of an offer-for-sale (OFS) of 2.56 crore equity shares, with no new shares being issued. In this 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.

(The copy was updated with additional information.)