Unicommerce eSolutions IPO gets fully subscribed; 2.43 times subscription on Day 1

New Delhi: The initial public offering of SoftBank-backed Unicommerce eSolutions got fully subscribed within hours of opening for subscription on Tuesday and finally ended the day with 2.43 times subscription.

The initial share sale received bids for 3,42,37,386 shares, as against 1,40,84,681 shares on offer, translating into 2.43 times subscription, as per NSE data.

The issue, with a price band of Rs 102-108 a share, is open for public subscription from August 6-8.

The portion for Retail Individual Investors (RIIs) attracted 9.97 times subscription, while the category for non institutional investors fetched 2.26 times subscription. The Qualified Institutional Buyers (QIBs) quota did not receive any significant bids on the first day of offer.

Unicommerce eSolutions on Monday said it has garnered over Rs 124 crore from anchor investors.

The issue is entirely an offer-for-sale (OFS) of up to 2.56 crore equity shares valued at Rs 276.6 crore at the upper end of the price band.Therefore, 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.

IIFL 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.