Unicommerce eSolutions is scheduled to finalize the basis of allotment of its shares on Friday, August 09. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate over the weekend or latest by Monday, August 12. The IPO of Kunal Bahl-backed software-as-a-service (SaaS) player had received a bumper response from the investors.
The IPO of Unicommerce eSolutions was open for bidding between August 6 and August 8. The company had offered its shares in the fixed price band of Rs 102-108 per share with a lot size of 138 shares. The company raised a total of Rs 276.57 crore from its IPO, which was entirely an offer-for-sale (OFS) of up to 2,56,08,512 equity shares.
The issue was overall subscribed a solid 168.39 times, thanks to the push from non-institutional investors (NIIs), whose quota was booked a stellar 252.48 times. The quota for qualified institutional bidders was subscribed a solid 138.75 times, while the portion reserved for retail investors saw bidding for 131.15 times during the three-day bidding process.
Grey market premium (GMP) of Unicommerce eSolutions has been holding firm following a robust interest from investors across all the segments. Last heard, the company was commanding a premium of Rs 55 per share, suggesting a listing pop of more than 50 per cent for the investors. However, it was around Rs 35 when the issue opened for bidding.
Incorporated in February 2012, Unicommerce eSolutions is a SaaS platform that manages e-commerce operations for brands, sellers, and logistics providers. The company offers a range of software products to help businesses efficiently manage their e-commerce operations after purchase.
Brokerage firms are mostly positive on the issue suggesting investors to subscribe to it for a long term. They see it as a key beneficiary of the rising e-commerce trend in India, strong product profile, sound financials, positive cash flows, scope of expansion. However, stretched valuations and low-entry barriers are the major risks for the company.
IIFL Securities and CLSA India are the book running lead managers of the Unicommerce eSolutions IPO, while Link Intime India is the registrar for the issue. Shares of the company shall be listed at both BSE and NSE, with Tuesday, August 13 as the tentative date of listing.
Investors, who had bid for the issue of Unicommerice eSolutions, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Unicommerice eSolutions Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit search button
Investors can also check the allotment status on the online portal of Link Intime India (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.
1) Go to the web portal of Link Intime Limited
2) Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.