Unicommerce Esolutions Stock Soars 117% on Debut
Aug 13, 2024 10:44
SoftBank-backed Unicommerce Esolutions Ltd saw its shares surge over 117% on its market debut, with a strong opening price of Rs 235. The company's IPO was oversubscribed 168 times.
New Delhi, Aug 13 (PTI) Shares of SoftBank-backed Unicommerce Esolutions Ltd on Tuesday made its market debut with a huge premium of over 117 per cent against the issue price of Rs 108.
The stock listed at Rs 230, rising sharply by 112.96 per cent from the issue price on the BSE.
Shares of the firm made its debut at Rs 235, rallying 117.59 per cent.
The company's market valuation stood at Rs 2,325.77 crore.
The initial public offer of Unicommerce eSolutions got subscribed a whopping 168.35 times on the last day of bidding on Thursday.
The initial share sale had a price band of Rs 102-108 a share.
Founded in 2012, the company's suite of SaaS solutions enables end-to-end management of e-commerce operations for brands, retailers, marketplaces, and logistics service providers.
It serves a large and growing base of clients in India, including Lenskart, Fabindia, Zivame, TCNS, Mamaearth, Emami, Sugar, BoAt, Portronics, Pharmeasy, Cello, Urban Company, Mensa, Shiprocket and Xpressbees.
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