AceVector (formerly Snapdeal) is offloading 94.38 Lakh shares of Unicommerce via the OFS component of the IPO
Unicommerce’s IPO included only an OFS of 2.56 Cr shares. The startup set the price band at INR 102-INR 108 per share
SoftBank, which is also selling some shares in FirstCry IPO, will make 3.5X returns by offloading a part of its stake in Unicommerce
AceVector Limited (formerly Snapdeal), the promoter of Unicommerce, is set to make 4.6X gains from the SaaS startup’s initial public offering (IPO).Recommending a ‘hold’ on the stock, Prashanth Tapse, senior VP (research) at Mehta Equities, said, “Considering the strong subscription demand, Unicommerce became the second biggest in terms of subscription so far in 2024 and understanding the market mood, we expect there is a good room for healthy listing gain in the range of about 40% and above against the issue price of INR 108 per share.”
As part of Unicommerce’s IPO, which included only an offer for sale (OFS) component of 2.56 Cr shares, AceVector is offloading 94.38 Lakh shares of the startup. While the weighted average cost of acquisition of these shares was INR 23.52 apiece, AceVector is now selling them at INR 108 per equity share, which would translate to 4.59X returns.