E-commerce SaaS platform Unicommerce investors made over 2X return on opening day
The e-commerce SaaS platform Unicommerce made an impressive debut on the stock market, opening at Rs 235 per share, 2.18 times higher than its IPO price range of Rs 108.
With a price range of Rs 102–108 per share, the Gurugram-based company opened its Rs 276 crore initial public offering (IPO) to the public on August 2–6. The oversubscription rate of Unicommerce, which increased by over 168 times, is indicative of its popularity.
Businesses such as Unicommerce will serve as role models for mid-stage software as a service (SaaS) companies that maintain solid fundamentals but lack the high valuations necessary to draw in a broad investor base.
The company reached its peak price of Rs 256 per share, according to the National Stock Exchange, and is now trading at Rs 219 (as of 13.55 today).
For the fiscal year that ended in March 2024, Unicommerce recorded revenue of Rs 104 crore and profit of Rs 13 crore. The business has not yet submitted its quarterly reports for the current fiscal year’s first quarter (FY25).
