Unicommerce’s stock surged by 16% during early trading on August 20, reaching a new high of Rs 264 per share, following a 20% increase in the previous session. 

The company’s IPO, which raised Rs 277 crore, was oversubscribed almost 170 times, making it one of the most popular offerings this year. The IPO consisted solely of an offer for sale, with no new capital raised by the company.

The e-commerce software company debuted on the stock exchange on August 13, opening at Rs 235 per share, more than double its issue price of Rs 108.

On August 5, the Gurgaon-based company concluded 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.

AceVector Group, previously known as Snapdeal, owns Unicommerce Esolutions. Japanese investor SoftBank is one of its largest investors. Snapdeal co-founders Kunal Bahl and Rohit Bansal’s early-stage investment firm, Titan Capital, are also shareholders.

Established in 2012, Unicommerce Esolutions limited, 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 company’s clients include modern consumer brands such as Myntra, Lenskart, Mamaearth, and Boat.

At 3:30 pm, the trading session closed with shares standing 4.61% higher at Rs 238.00 per share on NSE.

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