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Unicommerce, a leading e-commerce enabler, has made a stellar debut on the stock market, doubling investor wealth with a 117% premium listing.
This success is due to strong investor interest, with the IPO oversubscribed 168 times, and the company's robust position in the booming Indian e-commerce market.
The firm's financial growth is also impressive, with a 14% increase in revenues and a significant rise in net profit in FY24.

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The issue price was set at ₹108 per share, but the shares soared to ₹235 on the NSE on the first day of trading

Unicommerce lists with 117% premium, doubling investor wealth 

By Mudit Dube

Aug 13, 2024

01:10 pm

What's the story

E-commerce enabler Unicomerce eSolutions (Unicomerce) witnessed a blockbuster debut on the Indian stock exchanges on Tuesday. The company's shares listed at a hefty premium of 117.6% over the issue price, exceeding pre-listing expectations and highlighting investor confidence in the growing e-commerce landscape. The issue price was set at ₹108 per share, but the shares soared to ₹235 on the NSE on the first day of trading. Similarly, on the BSE, the shares opened at ₹230, reflecting a 113% premium.

Investor interest

Unicommerce's debut is fueled by optimism

Unicomerce's impressive listing can be attributed to several factors. The massive oversubscription of the IPO, exceeding 168 times on the final day, indicated strong investor interest. Additionally, the company's robust market position as a leading e-commerce enabler, serving a diverse clientele, fueled optimism. Analysts point out that Unicomerce's focus on technology and scalability positions it well for growth in the burgeoning Indian e-commerce market.

Company profile

Unicommerce eSolutions: A leading SaaS platform

Unicommerce eSolutions is a leading e-commerce enablement Software-as-a-Service (SaaS) platform. It serves a large and growing base of high-profile clients in India and six other countries, primarily in South East Asia and the Middle East. The company's suite of SaaS solutions enables comprehensive management of e-commerce operations for brands, retailers, marketplaces, and logistics service providers. Its long list of clients include names such as Lenskart, Fabindia, Mamaearth, Emami, Sugar, BoAt, Pharmeasy, Cello, Urban Company, Mensa, and Shiprocket.

Financial growth

Unicommerce reports robust financial performance

In FY24, Unicommerce reported a 14% year-on-year increase in revenues to ₹103 crore. The company's net profit also saw a significant rise, reaching ₹13 crore from just ₹6.4 crore in the previous fiscal year. IIFL Securities and CLSA India acted as the book running lead managers for the issue, while Link Intime India served as the registrar to the offer.