Unicommerce eSolutions Receives SEBI Approval for IPO Launch
- ByStartupStory | July 2, 2024
Unicommerce eSolutions Limited, a leading SaaS platform enabling retail and ecommerce operations, has garnered approval from the Securities and Exchange Board of India (SEBI) for its upcoming initial public offering (IPO). The Snapdeal-owned firm plans to initiate an offer-for-sale (OFS) of 2.98 crore equity shares with a face value of Rs 1 per share, according to a recent regulatory filing.
The Delhi-based company, founded in 2012, submitted its draft red herring prospectus (DRHP) to SEBI earlier this year, marking a significant step towards its IPO aspirations. The offer-for-sale will comprise up to 1.14 crore shares from AceVector Limited (formerly Snapdeal), 22.1 lakh equity shares from B2 Capital Partners, and 1.61 crore shares from SB Investment Holdings (UK).
IFL Securities and CLSA India have been appointed as the merchant bankers for Unicommerce’s IPO, underscoring the company’s strategic approach to capital market operations. Unicommerce specializes in providing SaaS solutions that streamline end-to-end ecommerce operations management for a diverse clientele including Lenskart, TCNS, Fabindia, Zivame, Mamaearth, SUGAR Cosmetics, and boAt Lifestyle. The firm extends its services not only across India but also in six other countries, focusing particularly on Southeast Asia and the Middle East.
In the quarter ending September 30, 2023, Unicommerce achieved a noteworthy milestone by processing an annual run-rate of 763.82 million order items, serving 743 enterprise clients and 2,830 SMB clients. According to industry sources such as Redseer, the company commanded a significant share, handling 20-25% of India’s ecommerce dropship volume during FY22.
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