Unicommerce IPO receives strong response, subscribed 168.35 times on third bidding day; Issue oversubscribed, check GMP

Stock market investors have shown a strong response to Unicommerce eSolutions Ltd's initial public offering (IPO), with all three categories—Qualified Institutional Buyers (QIB), Non-Institutional Investors (NII), and Retail Investors—displaying over-the-top bidding figures on the third day of the public issue.

As per the data collected from the Bombay Stock Exchange (BSE) website, the public issue was subscribed to 168.35 times on the third day; this indicates the high investor willingness for the public issue.

The Unicommerce IPO received a strong response from the Qualified Institutional Buyers (QIB) section, which was subscribed 138.75 times on the third day. The Non-Institutional Investors (NII) received a high level of subscription bidders, with the public issue subscribed 252.46 times at the end of the third day. These were followed up with the retail investors subscribing to the public issue 130.99 times, according to the BSE Cumulative Demand Schedule.

The IPO was getting a strong response and peaked on the third day during market hours.

Unicommerce IPO details:

The Kunal Bahl promoted Unicommerce eSolutions Ltd's initial public offering (IPO) is a software-as-a-service (SaaS) platform company which provides solutions for managing e-commerce operations for brands, sellers, and logistics providers. The company offers a list of software products designed to help businesses streamline their post-purchase e-commerce services.

The IPO raised 124.5 crore from 11 investors in its anchor round as the company allocated 1,15,23,831 or 1.15 crore shares at ₹108 per share.

IIFL Securities and CLSA India are the book-runners for the public issue, while Link Intime India is the registrar.

Unicommerce's public issue is an offer for sale (OFS) IPO of up to 2.56 crore shares with a face value of Re 1 per share. The price band for the IPO is set in the range of ₹102 to ₹108 per share.

Unicommerce IPO GMP today:

Unicommerce eSolutions's grey market premium (GMP) today is ₹55, as of August 8, according to data collected from investorgain.com. The GMP is a metric which shows how much are the investors willing to pay more for a public issue.

The company's estimated listing price is ₹163 per share, which is an expected gain of 50.93 per cent compared to the issue price band of ₹108 per share.