Synopsis: Unicommerce eSolutions debuted strongly on August 13, with shares listing 117.59% above the IPO price. The Rs276.57 crore IPO saw 168.35 times subscription. Analysts advise a cautious investment approach due to the high P/E ratio.
Unicommerce eSolutions had a remarkable market debut on August 13, with its shares listing at Rs235 on the NSE, marking a 117.59% premium over the IPO price of Rs108. On the BSE, shares debuted at Rs230, reflecting a 112.96% premium.
The company's IPO, valued at Rs276.57 crore, was open from August 6-8 with a price range of Rs102-108. The offering saw overwhelming interest, with a subscription rate of 168.35 times. Non-Institutional Investors led the demand, subscribing 252.46 times, followed by Qualified Institutional Buyers and Retail Investors at 138.75 and 130.99 times, respectively.
The IPO was an Offer for Sale (OFS) involving 2.56 crore shares, with no proceeds going to Unicommerce. The share allocation was 75% for institutional investors, 10% for retail, and 15% for non-retail investors. IIFL Securities and CLSA India managed the IPO, with Link Intime India as registrar.
Founded in February 2012, Unicommerce eSolutions provides SaaS solutions for e-commerce operations, serving major brands like Lenskart and Fabindia. The company also operates in six other countries. For FY24, Unicommerce reported a net profit of Rs13.08 crore and revenue of Rs109.43 crore.
Analysts suggest a cautious approach due to the high P/E ratio of 84x, indicating a premium valuation. The recommendation is to subscribe with caution.
Disclaimer: The views and recommendations provided above are those of individual analysts or broking companies. We advise investors to consult certified experts before making any investment decisions.
