Unicommerce eSolutions IPO: The company opened its issue to investors and started accepting bids from August 06 onwards. The company wants to raise a total of Rs 276.57 crore through entirely an offer for sale.
Price Band
The company kept the IPO price band in a range of Rs 102 to Rs 108 per equity share. The listing of the shares is likely to be on August 13 on the NSE and BSE platforms. Before that, the allotment of the shares is expected to be finalised on August 09.
GMP
Unicommerce eSolutions shares were fetching a premium of more than 23% in the grey market. It is an unofficial place where shares change hands illegally ahead of listing. Market participants keep an eye on GMP to track listing gains.
Minimum Investment Required
The minimum investment required for a retail buyer is Rs 14,904 as it needs to apply for a minimum of one lot that contains 138 shares. The lot sizes are different for small NIIs and big NIIs. A small NII needs an investment of Rs 2,08,656 while a big NII requires an investment of Rs 10,13,472.
“Considering the FY24 EPS of Rs 1.28 on a post-issue basis, the company is going to list at a P/E of 84.59x with a market cap of Rs 1,106 Cr. There are no listed entities comparable with that of the company’s business. We assign a “Subscribe” rating to this IPO as the company is the largest e-commerce-enabled SaaS products platform. Also, it is available at a reasonable valuation considering the future growth potential of the company,” said Marwadi Financial Services in an IPO note.
BRLMs and Registrar
IIFL Securities and CLSA India are the lead book runners for the IPO. Link Intime India is taking the work of the registrar for the issue.
