Unicommerce IPO: SaaS platform garners ₹124 crore from anchor investors ahead of public issue

SaaS platform Unicommerce eSolutions Ltd, on Monday, raised over ₹124.45 crore from anchor investors a day before its initial public offerings (IPO) will open for subscription.

The Unicommerce eSolutions IPO is a mainboard offering, and the bidding for this public issue will be open until August 8.

According to the exchange filing, the company has allocated 11,523,831 equity shares to 14 anchor investors and raised ₹124.45 crore ahead of company’s proposed IPO at the upper price band of ₹108 per equity share.

Some of the marquee investors include, SBI Mutual Fund, ICICI Prudential MF, HDFC Mutual Fund, Kotak Mutual Fund, Nippon Mutual Fund, and Morgan Stanley Investment Management (MSIM), Franklin Templeton Fund, M&G (Part of Prudential UK), DSP Mutual Fund, Aditya Birla Sun Life Mutual Fund.

Out of the total allocation of 11,523,831 equity shares to the Anchor Investors, 8,729,328 equity shares (i.e. 75.75% of the total allocation to Anchor Investors) to 8 domestic mutual funds through a total of 10 schemes.

Unicommerce IPO details

The IPO will open for subscription on Tuesday, August 6, and close on Thursday, August 8. The price band of the upcoming IPO has been set at ₹102 to ₹108 per share.

The company plans to raise ₹276.57 crore through a book-built issue, which is entirely an offer for sale (OFS) of 2.56 crore equity shares. In the OFS, Acevector Ltd (formerly known as Snapdeal Ltd) is offering 94.38 lakh equity shares, while SB Investment Holdings Pte. Ltd is offering 1.61 crore equity shares.

The company will not obtain any funds from the IPO, as all the proceeds will go to the selling shareholders.

Around 15% of the shares in the offering are allocated for non-institutional investors (NII), 10% are designated for retail investors, and no less than 75% are set aside for Qualified Institutional Bidders (QIB).

IIFL Securities Ltd and CLSA India Private Limited are the book-running lead managers for the Unicommerce eSolutions IPO, with Link Intime India Private Ltd serving as the IPO registrar.