Unicommerce eSolutions Makes Spectacular Stock Market Debut

New Delhi, Aug 13 (KNN) In a remarkable display of investor confidence, Unicommerce eSolutions, India's leading e-commerce enablement SaaS platform, made a stellar debut on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on Tuesday.

The company's shares opened at a significant premium, far exceeding market expectations and setting a positive tone for the e-commerce technology sector.

On the BSE, Unicommerce shares listed at Rs 230, representing a staggering 112.96 per cent premium over the initial public offering (IPO) price of Rs 108.

This translates to an impressive return of Rs 122 per share for initial investors. The NSE saw an even more dramatic opening, with shares debuting at Rs 235, marking a 117.59 per cent increase from the issue price.

The exceptional listing performance can be attributed to several factors, including the IPO's massive oversubscription of 168.35 times and a robust grey market premium that had surged over 63 per cent prior to the listing.

Market analysts suggest that Unicommerce's strong market position and track record of profitable growth were key drivers behind investor enthusiasm.

Shivani Nyati, Head of Wealth at Swastika Investmart, commented on the listing, stating, "This exceptional listing underscores the company's strong fundamentals and growth prospects."

However, Nyati advised caution, suggesting that investors consider booking some profits at the current levels, while those looking to hold their positions should maintain a stop loss at Rs 210.

The Unicommerce IPO, which closed on August 8, 2024, comprised a fresh issue and an offer for sale, each consisting of 25,608,512 shares, collectively raising approximately Rs 553.14 crore. The issue price was set at the upper end of the Rs 102-108 price band.

Investor interest was particularly strong among non-institutional investors (NIIs), with their portion being oversubscribed by 252.46 times. Qualified institutional buyers (QIBs) and retail investors also showed significant interest, with their segments oversubscribed by 138.75 and 130.99 times, respectively.

Founded in 2012, Unicommerce has established itself as a pivotal player in India's e-commerce ecosystem, facilitating end-to-end management of e-commerce operations for brands, sellers, and logistics service providers.

As of March 31, 2024, the company boasted an impressive annual transaction run-rate of over 790 million, serving more than 3,500 e-commerce businesses and managing 8,600+ warehouses and 2,700+ stores.

(KNN Bureau)