Unified Data-Tech Solutions’ maiden public issue was fully subscribed at 2.3 times on the first day of bidding, on May 22, with investors applying for 87.08 lakh shares against the offer size of 37.85 lakh shares through 14,860 applications.The Mumbai-based IT solutions provider aims to raise ₹144.47 crore through an initial public offering of 52.92 lakh shares. The price band for the issue is ₹260–273 per share.
Retail investors led the subscription, bidding 3.21 times their allotted quota. The portions reserved for non-institutional investors and qualified institutional buyers were subscribed 1.53 times and 1.49 times, respectively.
Unified Data-Tech Solutions’ IPO is entirely an offer-for-sale. Therefore, the issue proceeds will go to the selling shareholder, promoter Hiren Rajendra Mehta.The company, seeking a valuation of nearly ₹550 crore, has already raised ₹41.14 crore by allotting 15.06 lakh shares to 18 anchor investors, including Bharat Venture Opportunities Fund, Aarth AIF Growth Fund, Mind Focused Growth Fund, Finavenue Capital Trust, India Max Investment Fund, Innovative Vision Fund, and Strategic Sixth Sense Capital Fund.The issue will close on May 26. HEM Securities is the merchant banker for the Unified Data-Tech Solutions IPO.
