Unicommerce IPO oversubscribed 12.22x on Day 2
The IPO's retail segment has been oversubscribed by 35.54 times, receiving bids for 9.10 crore (9,10,07,688) shares against the 25 lakh (25,60,851) shares on offer.
's initial public offering (IPO) was fully subscribed on day two of the public issue, with the total offering subscribed almost 12.22 times at the end of bidding for the day.
As of 5:00 PM on August 7, investors bid for 17.2 crore (17,20,68,750) equity shares, compared to the 1.40 crore (1,40,84,681) equity shares offered for the subscription.
The IPO's retail segment has been oversubscribed by 35.54 times, receiving bids for 9.10 crore (9,10,07,688) shares against the 25 lakh (25,60,851) shares on offer.
Notably, the non-institutional investor category also saw bids for 7.48 crore (7,48,93,428)
shares, surpassing the 38 lakh (38,41,276) shares on offer.
On the second day of bidding, the IPO received bids from qualified institutional buyers (QIBs), with their portion being subscribed to 80%.
On the initial day of bidding, the issue was subscribed to 2.43 times the number of shares offered.
Unicommerce will close up its IPO subscription on Thursday, August 8, with the price range for the IPO set between ₹102 and ₹108 per share.
The Delhi-based SaaS firm has raised Rs 124.5 crore from its anchor investors. Out of the 1.15 crore equity shares available at Rs 108 each, 75.75% (87.29 lakh shares) have been allocated to eight domestic mutual funds across 10 different schemes.
SBI Mutual Fund, Morgan Stanley, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Nippon Mutual Fund, and Kotak Mahindra Trustee were some of the key investors.
The SoftBank-backed firm’s IPO is solely 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.
Edited by Jyoti Narayan