/indianstartupnews/media/agency_attachments/s1FnhAYONODoxNkoC8xA.png)
Follow Us/indianstartupnews/media/media_files/cWJFC2pNYmau5xbz32kK.jpg)
Unicommerce eSolutions Ltd, a Gurugram-based e-commerce enablement software-as-a-service (SaaS) platform, is gearing up for its initial public offering (IPO).
The company has announced a price band of Rs 102-108 per share for the IPO, which will be entirely an Offer for Sale (OFS) by existing shareholders.
The public issue will open for subscription on August 6 and close on August 8, with the anchor investor portion opening a day earlier on August 5.
Details of the offer for sale
The IPO is valued at Rs 276.6 crore at the upper end of the price band and will see existing shareholders offloading up to 2.56 crore equity shares.
The OFS has been slightly reduced from the earlier plan of 2.98 crore shares.
Among the major sellers are SB Investment Holdings (UK) Ltd, an affiliate of Japan's SoftBank, which will offload 1.61 crore shares, and promoter AceVector Ltd. (formerly known as Snapdeal Ltd.), which will sell up to 94.4 lakh shares.
Company valuation and stake distribution
At the upper end of the price band, Unicommerce will be valued at over Rs 1,100 crore (approximately $130 million). The proceeds from the IPO, being entirely an OFS, will go to the selling shareholders and not the company.
As of now, SoftBank holds a 29.2% stake in Unicommerce, AceVector owns 38.2%, and B2 Capital Partners, the promoter entity through which Snapdeal co-founders Kunal Bahl and Rohit Bansal hold a 9.91% stake.
Notably, B2 Capital has decided not to participate in the OFS, having initially planned to sell up to 2.2 million shares.
Investor allocation and listing details
Unicommerce has reserved 75% of the issue size for qualified institutional buyers (QIBs), 35% for non-institutional investors, and the remaining 10% for retail investors.
The IPO will be managed by IIFL Securities and CLSA India as the book-running lead managers, and the shares are proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
Company Background and Market Presence
Founded in 2012, Unicommerce is recognized as a leading e-commerce enablement SaaS platform in India.
The company provides a suite of solutions that manage end-to-end e-commerce operations for various brands, retailers, marketplaces, and logistics service providers.
Some of its prominent clients include Lenskart, Fabindia, Mamaearth, and Urban Company.
It has also been expanding internationally, currently serving 46 clients across Singapore, the Philippines, Indonesia, the UAE, and Saudi Arabia, with plans for further expansion.