SoftBank-Backed Unicommerce Esolutions Makes Market Debut, Stocks Jump Over 117% in Trade
Shares of SoftBank-backed Unicommerce Esolutions Ltd on Tuesday made its market debut with a huge premium of over 117 per cent against the issue price of Rs 108. The stock listed at Rs 230, rising sharply by 112.96 per cent from the issue price on the BSE.
New Delhi, August 13: Shares of SoftBank-backed Unicommerce Esolutions Ltd on Tuesday made its market debut with a huge premium of over 117 per cent against the issue price of Rs 108. The stock listed at Rs 230, rising sharply by 112.96 per cent from the issue price on the BSE.
Shares of the firm made its debut at Rs 235, rallying 117.59 per cent.
The company's market valuation stood at Rs 2,325.77 crore. The initial public offer of Unicommerce eSolutions got subscribed a whopping 168.35 times on the last day of bidding on Thursday. Stock Market Update: Sensex Declines 134.27 Points, Nifty Dips 38.65 Points in Early Trade; HDFC Bank Drags.
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. Bharti Global Reaches Agreement To Buy 24.5% Stake in UK Telecom Giant BT Group for USD 4 Billion.
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.
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