March 4, 2024
Gurugram-based ecommerce SaaS agency Unicommerce Esolutions Ltd has filed a draft purple herring prospectus (DRHP) for its preliminary public providing (IPO). By the providing, its shareholders – AceVector Group, B2 Capital and SoftBank – are collectively offloading 29.8 million shares.

Unicommerce Esolutions just isn’t elevating any recent capital by way of the IPO.

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SoftBank is the most important promoting shareholder of the IPO, offloading 16.2 million shares, or 15% of Unicommerce, adopted by AceVector with 11.4 million shares (10%) and B2 Capital promoting 2.2 million shares (2%).

As of date, SoftBank owns 29.2% stake within the firm, whereas AceVector holds 38.2%. B2 Capital has near 10% stake in Unicommerce.

For the primary six months of FY24, Unicommerce reported income from operations of Rs 51 crore, a 24% year-on-year enhance. Its internet revenue for April-September 2023 interval got here in at over Rs 6 crore, in comparison with almost Rs 2 crore in the identical interval of FY23.

It reported a 52% on-year enhance in its working income for the total 12 months ending March 31, 2023 to Rs 90 crore from Rs 59 crore in FY22. Its internet revenue for the interval had elevated by 8% to Rs 6.4 crore in FY23 from almost Rs 6 crore in FY22.

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In November, ET had reported that the corporate had commenced the book-building course of for its IPO and capital markets and funding agency CLSA was roped in as one of many managers for the difficulty.In December, Unicommerce had expanded its board of administrators, onboarding former SoftBank India head Manoj Kohli, FMCG sector veteran Ullas Kamath, and Sheroes founder Sairee Chahal as impartial administrators.

It had additionally appointed Snapdeal founders Kunal Bahl and Rohit Bansal as non-executive administrators. Bahl and Bansal are additionally cofounders of AceVector Group, which now homes Snapdeal, Stellaro Manufacturers, and Unicommerce. Snapdeal had acquired Unicommerce in 2015. In 2021, it offered a 30% stake within the agency to SoftBank.

Additional as per the DRHP, a number of buyers together with Anchorage Capital Fund, CitiusTech founders Rizwan Koita and Jagdish Moorjani, and inventory market investor Madhuri Madhusudan Kela, picked up a stake in Unicommerce in December.

Unicommerce operates in a number of world markets, along with India. These embrace Indonesia, the Philippines, Singapore, Malaysia, the UAE and Saudi Arabia. Nonetheless, virtually 97% of its income comes from India.

Based in 2012, the ecommerce enablement platform gives expertise merchandise to handle varied ecommerce operations, together with warehouse and stock administration, order administration, omnichannel retail administration, and vendor administration for marketplaces.

The corporate counts giant new-age client corporations corresponding to Myntra, Lenskart, Mamaearth and Boat amongst its clientele.