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Retail and ecommerce SaaS enablement platform UnicommerceeSolutions made a stunning debut on the Indian stock exchanges on Tuesday.

On the BSE, the company’s shares listed at Rs 230, with a 113% premium over its issue price. On the NSE, its shares listed at Rs 235 per share, up 117.6% over the given issue price of Rs 108.

Unicommerce’s shares were trading at a premium of Rs 67 to Rs 69 in the grey market on Monday. 

Grey market refers to an unofficial trading market where shares of IPO applications are bought and sold at a premium or a discount before the official public market launch.

Unicommerce’s IPO was oversubscribed up to 168.32 times on the final day of bidding, aided by a strong demand from non-institutional and retail investors. This led the company’s IPO to become one of the most subscribed startup IPOs in India this year.

As of 5:00 PM on August 8, the non-institutional investor category saw maximum interest with 96.9 crore bids, oversubscribing the 38 lakh shares on offer by 252.44 times.

The company had priced its IPO at Rs 102-Rs 108 per share. 

The IPO subscription, which opened for anchor investors on August 5, raised Rs 124.5 crore from anchor investors. Of the 1.15 crore equity shares offered at Rs 108 each, 75.75% (87.29 lakh shares) have been allocated to eight domestic mutual funds across 10 different schemes.

Founded in 2012, Unicommerce provides SaaS solutions to streamline end-to-end ecommerce operations for brands, marketplaces, retailers, and logistics providers. Its clients include Lenskart, Zivame, Mamaearth, Fabindia, SUGAR Cosmetics, and boAt Lifestyle.