Unicommerce eSolutions shares list at 117% premium over issue price - Buy, sell or hold? Check Anil Singhvi's view

Unicommerce eSolutions Listing on NSE, BSE: Shares of SoftBank-backed Unicommerce eSolutions made a strong debut on the bourses on Tuesday. The stock list at Rs 235 on the NSE with a premium of 117.59 per cent against the issue price of Rs 108. 

Unicommerce eSolutions Listing on NSE, BSE: Anil Singhvi's View

Zee Business Managing Editor Anil Singhvi on Tuesday said that short-term investors can hold the shares with a stop loss of Rs 150. 

"We advised investors to apply for good listing gains and long-term. While short-term investors can hold the shares of Unicommerce eSolutions with stop loss of Rs 150, long-term investors can keep shares in their portfolio for 2-3 years," he said.

Earlier, the initial public offer of Unicommerce eSolutions got subscribed a whopping 168.35 times on the last day of bidding.

The initial share sale received bids for 2,37,11,72,994 shares against 1,40,84,681 shares on offer, as per NSE data.

The quota for non-institutional investors fetched 252.46 times subscriptions while the category for Qualified Institutional Buyers (QIBs) got subscribed 138.75 times. The portion for Retail Individual Investors (RIIs) received 130.99 times the subscription.

The initial public offering (IPO) of Unicommerce eSolutions was fully subscribed within hours of opening for subscription on Tuesday.

The issue had a price band of Rs 102-108 a share.

Unicommerce eSolutions on Monday said it has garnered over Rs 124 crore from anchor investors.

The issue is entirely an offer-for-sale (OFS) of up to 2.56 crore equity shares valued at Rs 276.6 crore at the upper end of the price band. Therefore, the entire proceed will go to the selling shareholders.

Founded in 2012, the company's suite of SaaS solutions enables end-to-end management of e-commerce operations for brands, retailers, marketplaces, and logistics service providers.
It serves a large and growing base of clients in India, including Lenskart, Fabindia, Zivame, TCNS, Mamaearth, Emami, Sugar, BoAt, Portronics, Pharmeasy, Cello, Urban Company, Mensa, Shiprocket and Xpressbees.

With PTI inputs