Unicommerce Closes Anchor Portion of IPO, Allocates Shares Worth Rs 124 Crore to Investors
Unicommerce Esolutions Ltd, a popular ecommerce software platform backed by SoftBank, recently announced the closure of the anchor portion of its initial public offering (IPO). The company allocated shares valued at more than Rs 124 crore to both domestic and foreign investors. Let’s delve into the details of this exciting development in the world of cryptocurrencies.
Investors Participating in the Anchor Investment Round
- SBI Mutual Fund
- HDFC Mutual Fund
- ICICI Prudential Mutual Fund
- Morgan Stanley
- Franklin Templeton
- Prudential Assurance Company
These renowned investors were allocated shares at Rs 108 each, which is at the upper end of the price band set for the IPO. The IPO is set to open for public bidding on Tuesday and will conclude on August 8. The company’s stock is expected to be listed on various exchanges on August 13.
Overview of the IPO
- The IPO does not include a fresh issue component.
- It will feature an offer-for-sale (OFS) of up to 25.6 million shares.
- The OFS was initially planned to offload 29.8 million shares but has been truncated.
- SoftBank and promoter AceVector Group will be selling their stakes through the OFS.
Changes in Stakeholding
B2 Capital Partners, the promoter entity of Unicommerce, previously intended to sell up to 2.2 million shares but has now dropped out of the OFS component. Currently, SoftBank holds a 29.2% stake in the company, while AceVector and B2 Capital own 38.2% and close to 10%, respectively.
About Unicommerce
Established in 2012, Unicommerce provides advanced technology solutions for managing operations such as warehouse and inventory management, order management, omnichannel retail management, and seller management for ecommerce platforms. The company serves a diverse clientele, including popular consumer brands like Myntra, Lenskart, Mamaearth, and Boat.
Hot Take: Embracing the Future of Ecommerce Software
As an enthusiast in the world of cryptocurrencies, the recent developments in Unicommerce’s IPO showcase the growing interest and investment opportunities in ecommerce software platforms. It reflects a positive outlook on the future of technology-driven solutions in the ecommerce industry, providing potential for innovation and growth. Stay tuned for more updates on Unicommerce and other groundbreaking developments in the digital market space.
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