The public offering of Unicommerce has generated remarkable interest among investors, becoming the most subscribed startup IPO in India this year. On the final day of bidding, the offer was subscribed 168.32 times, surpassing the previous record set by Awfis IPO with 108X subscriptions. This surge in interest was largely driven by non-institutional and retail investors.
The non-institutional investor category recorded significant interest with 96.9 crore bids, oversubscribing the 38 lakh shares available by 252.44 times. Overall, investors submitted bids totaling more than 237 crore, well beyond the 1.40 crore equity shares offered. The retail segment of the IPO was oversubscribed by 130.86 times, with 33.5 crore bids received against the 25 lakh shares on offer.
The IPO, priced between Rs 102 and Rs 108 per share, saw heightened interest from qualified institutional buyers on the third day of bidding, with this portion subscribed 138.75 times. Additionally, Unicommerce is currently trading at a grey market premium of Rs 50-52.
On its initial day of bidding, the issue was subscribed 2.43 times the number of shares offered. The Delhi-based SaaS company has raised Rs 124.5 crore from anchor investors. Of the 1.15 crore equity shares available at Rs 108 each, 75.75% (87.29 lakh shares) have been allocated to eight domestic mutual funds across 10 different schemes. Key investors include SBI Mutual Fund, Morgan Stanley, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Nippon Mutual Fund, and Kotak Mahindra Trustee.
Unicommerce’s IPO is an offer-for-sale (OFS) of 2.56 crore equity shares, with no new shares being issued. In this OFS, AceVector Ltd (formerly Snapdeal Ltd) will sell up to 94.38 lakh equity shares, while SoftBank will offer up to 1.61 crore equity shares.
