SoftBank-backed Unicommerce eSolutions' stock surges 96% in debut market trade

New Delhi: Shares of SoftBank-backed Unicommerce eSolutions Ltd on Tuesday made a remarkable market debut and ended with a huge premium of nearly 96 per cent against the issue price of Rs 108.

The stock listed at Rs 230, rising sharply by 112.96 per cent from the issue price on the BSE. Intra-day, it jumped 137.17 per cent to Rs 256.15. Shares of the firm ended at Rs 210.05, up 94.49 per cent.

On the NSE, the stock made its debut at Rs 235, rallying 117.59 per cent. It ended at Rs 211.50, reflecting a jump of 95.83 per cent.

The company's market valuation stood at Rs 2,151.63 crore.

The remarkable surge in the stock ignored the weak trend in the equity market. The 30-share BSE Sensex tumbled 692.89 points or 0.87 per cent to settle at 78,956.03. The NSE Nifty slumped 208 points or 0.85 per cent to 24,139.

The initial public offer of Unicommerce eSolutions got subscribed a whopping 168.35 times on the last day of bidding on Thursday.

The initial share sale had a price band of Rs 102-108 a share.

Founded in 2012, the company's suite of SaaS solutions enables end-to-end management of e-commerce operations for brands, retailers, marketplaces, and logistics service providers.

It serves a large and growing base of clients in India, including Lenskart, Fabindia, Zivame, TCNS, Mamaearth, Emami, Sugar, BoAt, Portronics, Pharmeasy, Cello, Urban Company, Mensa, Shiprocket and Xpressbees.