Unicommerce eSolutions shares turn multibagger on market debut! Stock lists at 118% premium

Shares of Unicommerce eSolutions made a bumper debut at Dalal Street on Tuesday as the SaaS player was listed at Rs 235 on NSE, a premium of 117.59 per cent over its issue price of Rs 108. The stock more than doubled investors' money on BSE too, listing at Rs 230 apiece, up 112.96 per cent over the given issue price.
 

The listing has fared better than the expectations of the street. Last heard, Unicommerce eSolutions were commanding a grey market premium (GMP) of Rs 68-70 per share, suggesting a listing pop of nearly 65 per cent for the investors. However, it was around Rs 55 when the issue closed for bidding.
 

The IPO of Unicommerce eSolutions was open for bidding between August 6 and August 8. The SaaS company had offered its shares in the range 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.
 

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 were mostly positive on the issue suggesting investors to subscribe to it for a long term. 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.