Unicommerce ESolutions IPO GMP Hints Listing Gains; Check Expected Price

3 min read Last Updated : Aug 12 2024 | 1:32 PM IST

Shares of Unicommerce eSolutions are commanding a strong grey market premium (GMP) ahead of their listing, scheduled for tomorrow, August 13. The public issue, whose allotment was finalised on Friday, August 9, received an enthusiastic response from investors, being subscribed 168.35 times on the final day of subscription. The Non-Institutional Investors (NII) category received the highest bid at 252.46 times, followed by the Qualified Institutional Buyers (QIB) category at 138.75 times, and 130.99 times in the retail category.

As of around 01:00 PM on Monday, Unicommerce eSolutions shares were trading at a premium of Rs 65-69 or 60-63 per cent, which is nearly 10 per cent higher than the GMP of Rs 60 that the shares commanded on the IPO allotment date of August 9, 2024, according to several websites that track grey market activities. This indicates a bumper listing for Unicommerce eSolutions shares on the bourses—BSE and NSE.

Unicommerce eSolutions listing price prediction

Unicommerce eSolutions shares are expected to debut on the bourses—BSE and NSE—on Tuesday, August 13, 2024. Based on the current GMP, the company’s shares may list around Rs 177 (GMP + Issue Price), yielding a return of nearly 64 per cent per share to its investors.

Unicommerce eSolutions IPO details

The company seeks to raise Rs 276.57 crore from the public issue, offering a fresh issue of 25,608,512 shares worth nearly Rs 276.57 crore and an offer for sale of 25,608,512 shares with a face value of Re 1, aggregating up to Rs 276.57 crore. The IPO was available at a price band of Rs 102 to Rs 108 per share with a lot size of 138 shares. Unicommerce eSolutions raised Rs 124.46 crore from anchor investors on August 5, 2024.

Brokerage firm Deven Choksey Research has assigned a Neutral rating for the Unicommerce eSolutions IPO. However, the brokerage noted that the company’s strategies, focused on strengthening its Indian market presence, leveraging emerging technologies, and enhancing client satisfaction, position it well to capitalize on the sector’s growth. The increasing TAM for its core and adjacent products, along with potential international expansions, underlies a positive outlook for continued revenue growth and market leadership. Deven Choksey Research expects the company to trade at a PE multiple of 84x on its FY24 EPS.

About Software-as-a-Service

Unicommerce eSolutions Limited is a Software-as-a-Service (SaaS) platform that manages e-commerce operations for brands, sellers, and logistics providers. The company offers several key products as part of its SaaS platform, including a Warehouse and Inventory Management System (WMS), Multi-Channel Order Management System (OMS), Omni-Channel Retail Management System (Omni-RMS), Seller Management Panel, Post-Order Services (UniShip), and Payment Reconciliation (UniReco).

First Published: Aug 12 2024 | 1:26 PM IST