It came after a 20% surge in the previous trading session.
The e-commerce software company listed on the bourses on August 13 at a hefty premium On the National Stock Exchange (NSE), it listed at Rs 235 per share, more than double its issue price of Rs 108.
On August 13, ET reported that the companyβs Rs 277-crore initial public offering (IPO) was subscribed nearly 170 times, making it one of the most subscribed issues this year. The IPO was entirely an offer for sale, with no primary capital raised by the company.
As of 11 am on Tuesday, the shares were trading 10.35% higher at Rs 251 on the BSE.Established in 2012, Unicommerce Esolutions provides technology solutions for managing various operations, including warehouse and inventory management, order management, omnichannel retail management and seller management for e-commerce platforms.The companyβs clientele includes new-age consumer brands such as Myntra, Lenskart, Mamaearth and Boat.Unicommerce Esolutions is owned by AceVector Group, previously known as Snapdeal, and has Japanese investor SoftBank as one of its largest investors. Snapdeal co-founders Kunal Bahl and Rohit Bansalβs early-stage investment firm, Titan Capital, is also a shareholder.
On August 5, the Gurgaon-based company closed the anchor portion of its IPO, assigning shares worth more than Rs 124 crore to both domestic and overseas investors, including SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Morgan Stanley, Franklin Templeton and Prudential Assurance Company.
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