New Delhi: SoftBank-backed SaaS platform Unicommerce eSolutions on Thursday, announced a price band of Rs 102 to Rs 108 crore a share for its Rs 276-crore Initial Public Offering (IPO).
The company's maiden public issue will open for subscription on August 6 and conclude on August 8 and the bidding for the anchor portion will open for a day on August 5, the company announced.
The issue is entirely an Offer for Sale (OFS) aggregating up to 2.56 crore equity shares valued at Rs 276.6 crore, at the upper end of the price band, by the selling shareholders.
Since the IPO is completely an OFS, the entire proceeds will go to the selling shareholders.
Under the OFS, SB Investment Holdings (UK), an affiliate of Japan's SoftBank, will offload 1.61 crore shares, and promoter AceVector Limited (formerly known as Snapdeal) will sell up to 94.38 lakh shares.
The company said that 75% of the issue size has been reserved for qualified institutional buyers, 35% for non-institutional investors and the remaining 10% for retail investors.
Investors can bid for a minimum of 138 equity shares and in multiples thereof.
IIIFL Securities and CLSA India are the book-running lead managers to the issue. Shares of the company will be listed on BSE and the National Stock Exchange.
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