unicommerce esolutions ipo: Unicommerce eSolutions IPO subscribed 78% so far on first day of tender. Check GMP and other details

Unicommerce eSolutions’ initial public offering (IPO) was 78% subscribed in the first two hours of the auction on Tuesday, largely due to strong demand from retail investors.

As of 11:30, the public issue was subscribed 0.78 times. Retail investor category led the demand with subscriptions reaching 3.6 times. Non-institutional investor (NII) category was subscribed 47% while there were no bids from qualified institutional buyers at that time.

Meanwhile, the current Grey Market Premium (GMP) for Unicommerce eSolutions is Rs 24-25 crore, which is 22% of the premium in the unlisted market.

The IPO is an all-offer for sale (OFS) of up to 2.56 crore shares at a face value of Re 1 per share. Under the OFS, AceVector Ltd and SB Investment Holdings (UK) will sell their fractional stakes. Since the IPO is an all-OFS, the company will not receive any issue proceeds.

Unicommerce eSolutions IPO price range
The company has fixed the price band at Rs 102-108 per share, where investors can bid for 138 shares in one lot.

Approximately 75% of the offering is reserved for qualified institutional buyers, 10% for retail investors and the remaining 15% for non-retail investors.

Unicommerce eSolutions Public Offering Overview
Analysts advise aggressive investors to sign up for the IPO in order to gain from the listing as the issue price is higher.

“The IPO is aggressively priced at a P/E of 84x, reflecting a premium valuation. In the absence of listed peers, a comprehensive valuation comparison is difficult. Considering these factors, we advise a cautious approach and suggest that only well-informed investors should consider this IPO for the potential upside from the listing,” Swastika told Investmart.

GMP e-commerce solutions
The current GMP for Unicommerce eSolutions is Rs 24-25, which is a 22% premium in the unlisted market.

Other details
Unicommerce eSolutions is a software-as-a-service (SaaS) platform that enables e-commerce. The company’s suite of SaaS solutions enables comprehensive management of e-commerce operations for brands, retailers, marketplaces, and logistics providers.

It serves a large and growing number of notable clients in India including Lenskart, Fabindia, Zivame, TCNS, Mamaearth, Emami, Sugar, boAt, Portronics, Pharmeasy, GNC, Cello, Urban Company, Mensa, Shiprocket, Xpressbees and others.

Apart from India, Unicommerce also has customers in six other countries, mainly in Southeast Asia and the Middle East.

For fiscal 2024, the company’s revenue grew 14% year-on-year to Rs 103 crore, while net profit rose to Rs 13 crore from just Rs 6.4 crore in the previous fiscal.

IIFL Securities and CLSA India are the lead managers for the issue, while Link Intime India is the registrar for the offer.