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Unicommerce investors made over 2X return on opening day

Entrackr · 4m

Unicommerce, the e-commerce SaaS platform, made an impressive stock market debut, opening at Rs 235 per share—a 2.18X premium over its IPO price band of Rs 108. The Gurugram-based firm launched an IPO of Rs 276 crore, open to the public from August 2 to August 6, with a price band of Rs 102-108 per share. Unicommerce’s popularity is evident in its oversubscription rate, which soared over 168 times. Companies like Unicommerce will be setting examples for mid-stage SaaS companies which do not have such high valuations but strong fundamentals that are enough to attract a large investor base. Recommended read: Unicommerce IPO interest paves way for small, profitable startups to go public. According to the National Stock Exchange, the company touched its highest of Rs 256 per share and is currently trading at Rs 219 (as of 13.55 today). Unicommerce reported a revenue of Rs 104 crore in the fiscal year ending March 2024, with a profit of Rs 13 crore. The company is yet to file its quarterly results for the first quarter of the ongoing fiscal year (FY25).