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SoftBank-backed Unicommercesaw its shares jump nearly 9% on their first day of trading following a blockbuster debut on the Indian stock exchanges. The Delhi-based firm’s stock opened at Rs 235 per share on the NSE, marking a 117.6% premium over its issue price of Rs 108. On the BSE, it debuted at Rs 230, reflecting a 113% premium.

Unicommerce’s IPO was oversubscribed 168.32 times on the final day of bidding, led by strong demand from non-institutional and retail investors. This made the company’s IPO one of the most subscribed startup offerings in India this year. The IPO was priced at Rs 102 to Rs 108 per share.

On Monday, Unicommerce’s shares were trading at a premium of Rs 67 to Rs 69 in the grey market. The grey market is an unofficial trading market where IPO shares are bought and sold at premiums or discounts before their official market launch.

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

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

Founded in 2012, Unicommerce offers SaaS solutions to optimise end-to-end ecommerce operations for brands, marketplaces, retailers, and logistics providers. Its clientele includes LenskartZivameMamaearth, SUGAR Cosmetics, among others.