Unicommerce, a software-as-a-service (SaaS) company that specializes in retail and e-commerce enablement, has raised Rs 124.5 crore from its anchor investors, only one day before its initial public offering (IPO).
The company has assigned a portion of 87.29 lakh equity shares, which is 75.75% of the overall allocation of 1.15 crore equity shares priced at Rs 108 apiece, to eight domestic mutual funds through a total of 10 separate schemes.
Based on the disclosures, SBI Mutual Fund, Morgan Stanley, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Nippon Mutual Fund, and Kotak Mahindra Trustee have individually purchased 1.296 million equity shares valued at Rs 14 crore.
The Prudential Assurance Company, Franklin India Technology Fund, Aditya Birla Sun Life Trustee, DSP Multicap Fund, and High Conviction Fund collectively purchased 749,000 shares valued at INR 80.9 million.
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Unicommerce’s IPO would not involve the issuance of any new shares, but will solely consist of an offer-for-sale (OFS) of 2.56 crore equity shares. AceVector Ltd (previously Snapdeal Ltd) would sell a maximum of 94.38 lakh equity shares as part of the OFS, while SoftBank will offer a maximum of 1.61 crore equity shares.
SoftBank Group, the largest institutional stakeholder in Unicommerce, anticipates returns exceeding 3 times by offering up to 1.61 crore shares, even if the company lists at the lower end of the price range, valuing it at around $120 million (around Rs 1,010 crore).
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