The stock went up to Rs 239, rising sharply by over 117.96% from the issue price on the BSE
New Delhi: Shares of SoftBank-backed Unicommerce Esolutions Ltd on Tuesday closed its market debut with a huge premium of over 96% at Rs 211.65 against the issue price of Rs 108.
The stock went up to Rs 239 in the afternoon, rising sharply by over 117.96% from the issue price on the BSE to finally settle on the first day at Rs 211.65.
Shares of the firm made its debut at Rs 235, rallying 117.59% taking the company’s market valuation to Rs 2,325.77 crore.
The initial public offer of Unicommerce got subscribed a whopping 168.35 times on the last day of bidding on Thursday.
The initial share sale had a price band of Rs 102-108 a share.
Founded in 2012, the company’s suite of SaaS solutions enables end-to-end management of e-commerce operations for brands, retailers, marketplaces, and logistics service providers.
It serves a large and growing base of clients in India, including Lenskart, Fabindia, Zivame, TCNS, Mamaearth, Emami, Sugar, BoAt, Portronics, Pharmeasy, Cello, Urban Company, Mensa, Shiprocket and Xpressbees.
With inputs from PTI
