SoftBank-backed Unicommerce sets IPO price band at Rs 102-108 per share

SoftBank-backed SaaS platform Unicommerce eSolutions Ltd on Thursday announced a price band of Rs 102 to Rs 108 crore a share for its Rs 276-crore Initial Public Offering (IPO).

The company's maiden public issue will open for subscription on August 6 and conclude on August 8 and the bidding for the anchor portion will open for a day on August 5, the company announced.

The issue is entirely an Offer for Sale (OFS) aggregating up to 2.56 crore equity shares valued at Rs 276.6 crore, at the upper end of the price band, by the selling shareholders.

Since the IPO is completely an OFS, the entire proceeds will go to the selling shareholders.

Under the OFS, SB Investment Holdings (UK) Ltd, an affiliate of Japan's SoftBank, will offload 1.61 crore shares, and promoter AceVector Limited (formerly known as Snapdeal Limited) will sell up to 94.38 lakh shares.

Founded in 2012, Unicommerce eSolutions is India's leading e-commerce enablement software-as-a-service (SaaS) platform. The company's