Unicommerce eSolutions Ltd is a Gurugram-based SaaS startup that has presented an RHP to SEBI for its IPO prospectus to launch its IPO. The IPO is to begin on 6th August 2013 and will end on 8th August 2013; however, anchor investors are to bid on 5th August 2013.
Key Details of the Offer For Sale (OFS)
It’s an Offer for Sale in which the IPO is completely devised in such a way that no fresh stock will be created. The offering includes 25. 6 million shares and all the money received will be paid to the selling shareholders.
Some of the major shareholders of the OFS are SB Investment Holdings (UK) Ltd being an associate company of SoftBank of Japan and has proposed to divest 16. 1 million shares. AceVector Group which was earlier called as Snapdeal Limited is likely to divest up to 9. 43 million shares. Significantly, B2 Capital Partners which forms a part of Snapdeal and in which Kunal Bahl and Rohit Bansal, founders of Snapdeal have invested in Unicommerce have decided not to participate in the OFS.
About Unicommerce
The e-commerce enablement SaaS firm was established in 2012, and it is called Unicommerce. Some of the services that the company provides include; Package and ship, sell online, connect with customers, grow your business and, manage your accounts. Some of the major clients that are directly linked with the company are Lenskart, Fabindia, Mamaearth, and Urban Company.
There has been a constant attempt by Unicommerce to go global For now, Unicommerce has clients in Singapore, Philippines Indonesia, UAE and Saudi Arabia with more locations planned for expansion.
Financial Performance
In the fiscal year ending on 31st March 2023, Unicommerce has operating revenue of 103Cr. From Rs 60 crore in the last fiscal to Rs 95 crore in the current fiscal was recorded for their export performance. The gross profit margin leapt earning a gross of Rs. 13 crore from Rs. 6. 4 crore.
Shareholders and Board Expansion
AceVector Limited owns a percent of 38. acquired 18% equity of Unicommerce and Soft Bank invested 29 percent. District 23%, and B2 Capital Partners holding 9%. 91%. In December, Unicommerce raised some funds and also brought Manoj Kohli, ex head of SoftBank India, and veteran of FMCG, Ullas Kamath as independent directors and Sairee Chahal of Sheroes. Other directors included Bahl and Bansal who are the co-owners of AceVector Group as non-executive directors. Unicommerce works hand in hand with Snapdeal since it was acquired by the latter in 2015; Snapdeal again sold 30% shares in 2021 to SoftBank of Japan.
IPO Management
While, the Indian financial institutions IIFL Securities and CLSA India will act as the book running lead managers for this IPO. The shares are to be floated in BSE and NSE as a public issue.
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