SaaS startup Unicommerce eSolutions Limited has announced a price band of ₹102-108 per equity share for its upcoming initial public offering (IPO). The bidding for the IPO will open on August 6 and close on August 8. The IPO comprises an offer for sale (OFS) aggregating up to 2.56 crore equity shares, with selling shareholders expected to garner ₹276.57 crore at the upper end of the price band.
Anchor bidding for the IPO is set to commence on August 5. The bid lot for the IPO is 138 shares, with bids required to be placed in multiples of this amount thereafter.
Under the OFS, AceVector Ltd (formerly Snapdeal) will sell up to 94.38 lakh equity shares, and SoftBank will sell up to 1.61 crore equity shares. However, Snapdeal cofounders Kunal Bahl and Rohit Bansal, who hold a joint stake in Unicommerce through their venture capital firm B2 Capital Partners, have withdrawn from the OFS. They had initially planned to offload 22 lakh equity shares.
The IPO marks a significant step for Unicommerce eSolutions as it seeks to leverage public capital markets to fuel its growth and expansion. The company’s decision to price the shares within this band reflects its strategic considerations in attracting a broad base of investors while ensuring an optimal valuation.
