Unicommerce eSolutions IPO subscribed 37X on day 3 so far, retail portion booked 72X. Check GMP, other details
As of 12:30 pm, the retail investor category booked strong demand, with subscriptions reaching 72.72 times. The non-institutional investor (NII) category was subscribed nearly 88 times, while the qualified institutional buyers had booked the issue by 1.7 times
Meanwhile, the current grey market premium (GMP) for Unicommerce eSolutions is Rs 50, representing a 46.3% premium in the unlisted market.
The IPO is entirely an offer for sale (OFS) of up to 2.56 crore shares with a face value of Re 1 per share. Under the OFS, AceVector Ltd and SB Investment Holdings (UK) will be offloading their part stakes. Since the IPO is completely an OFS, the company will not receive any proceeds from the issue.
Unicommerce eSolutions IPO price band
The company has fixed a price band of Rs 102-108 per share, where investors can bid for 138 shares in one lot.
About 75% of the offer is reserved for qualified institutional buyers, 10% for retail investors and the rest 15% for non-retail investors.
Unicommerce eSolutions IPO review
Analysts advised aggressive investors can subscribe to the IPO for listing gains as the issue is priced on the higher side.
«The IPO is aggressively priced at a P/E of 84x, reflecting a premium valuation. In the absence of listed peers, a comprehensive valuation comparison is challenging. Given these factors, we recommend a cautious approach and suggest that only well informed investors consider this IPO for potential listing gains,» said Swastika Investmart.
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