Unicommerce ESolutions Limited, the SaaS platform based e-commerce enabler, has filed its draft document with the market regulator Securities and Exchanges Board of India (SEBI) for its initial public offering. According to the DRHP, the IPO will comprise entirely of an offer for sale of 2.98 crore shares from the existing shareholders. There is no fresh issue of equity shares in the initial public offer. The company will be listed on the mainline segments of National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
The face value of each equity share is Rs 1 and the price band will be determined through a book-building process. The price band, dates and other key details will be notified in due time, the company noted.
Unicommerce’s promoter parent firm AceVector Limited (formerly Snapdeal Limited) will offload up to 1.14 crore shares while two other investors – B2 Capital Partners and SB Investment Holdings (UK) Limited will offload round 22.10 lakh and 1.61 crore shares respectively.
IIFL Securities Limited and CLSA India Private Limited are the book running lead managers whereas Link Intime India Private Limited is the registrar to the issue.
A minimum of 75% of the offer will be allocated to the Qualified Institutional Buyers (QIBs) and the non-institutional investors and retail investors’ allocation will stand at 15% and 10% respectively.
Incorporated in 2012, Unicommerce touts itself as India’s largest e-commerce enablement Software-as-a-Service (Saas) platform in transaction processing. The client list of the company includes top brands such as Mamaearth, Fabindia, Zivame, Lenskart, TCNS, Emami, BoAt, Portronics, Pharmeasy, Cello, Urban company and many more.
In the first half of 2024 between the months of April-September 2024, Unicommerce reported a net profit of Rs 6.3 crore on a revenue of Rs 51 crore. In comparison, the company’s profit stood at Rs 6 crore on a revenue of Rs 90 crore in FY23. The company noted that its revenue rose by about 53% in FY23 and the profit grew by 8% in the same period. Further, Unicommerce witnessed an 86% rise in its free cash flows (FCF) in FY23 as compared to FY22. The company’s FCF was Rs 14.57 crore in FY23 against Rs 7.82 crore in FY22. The operating costs increased too, to Rs 84.1 crore in FY23 as compared to Rs 54.4 crore in FY22.
With its draft IPO papers filed, Unicommerce is now among the many new-age companies such as Ola Electric, FirstCry and MobiKwik that are looking to make their market debut in the first half of 2024.
