Unicommerce IPO sees 9.97X oversubscription from retail investors

E-commerce and retail SaaS platform Unicommercesaw its initial public offering (IPO) fully subscribed by retail investors within a few hours of its launch.

As of 5:05 PM on August 6, the IPO's retail segment has been oversubscribed by 9.97 times, receiving bids for 2.55 crore (2,55,36,486) shares against the 25 lakh (25,60,851) shares on offer. 

Notably, the non-institutional investor category saw bids 2.26 times for 86 lakh (86,79,648) shares, surpassing the 38 lakh (38,41,276) shares on offer.

Investors subscribed to 3.42 (3,42, 37,386) crore equity shares, exceeding the offer size of 1.4 (1,40, 84, 681) crore shares by 2.43 times.

Qualified institutional buyers failed to see any bids on day one, though 76 shares were on offer.

The Unicommerce IPO, running from August 6 to 8, features a price band of Rs 102-108 per share. 

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Unicommerce IPO fully subscribed on day one

The Delhi-based SaaS firm secured Rs 124.5 crore from its anchor investors. Of the total 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 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 exclusively 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.