Unicommercee Solutions’ IPO fully-subscribed

New Delhi: The initial public offering of SoftBank-backed SaaS platform UnicommerceeSolutions Ltd got fully-subscribed within hours of opening for subscription on Tuesday.The initial share sale received bids for 2,09,25,906 shares, as against 1,40,84,681 shares on offer, translating into 1.49 times subscription, as per NSE data till 13:42 hours. The portion for Retail Individual Investors (RIIs) attracted 6.66 times subscription, while the category for non institutional investors fetched 1.01 times subscription. UnicommerceeSolutions Ltd on Monday said it has garnered over Rs 124 crore from anchor investors.

The issue, with a price band of Rs 102 to Rs 108 a share, is open for public subscription from August 6-8. The issue is entirely an offer-for-sale (OFS) aggregating up to 2.56 crore equity shares valued at Rs 276.6 crore at the upper end of the price band. Since the IPO is completely an OFS, the entire proceeds will go to the selling shareholders.