E-com SaaS Provider Unicommerce Prepares for IPO: Bids Set to Open on August 6 Unicommerce, the Indian e-commerce enablement SaaS platform has announced its Initial Public Offering (IPO), which will be open for bids on August 6, 2024
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Unicommerce's Offer of Equity Shares is valued at INR 276.57 crores and comprises an offer for sale (OFS) of up to 25,608,512 shares, out of which 9,438,272 are being offered for sale by the promoter Acevector Limited (formerly Snapdeal Limited) and 16,170,240 equity shares by SB Investment Holdings, an investor in Unicommerece that is selling shares.
The price band is fixed at INR102-108 per equity share with a face value of INR 1 each. IIFL Securities Limited and CLSA India Private Limited are the book-running lead managers to the Offer (BRLMs).
According to Unicommerce, the main objectives of the offer are to carry out the sale of up to 25,608,512 equity shares by the selling shareholders and access the benefits of the company being listed in the Bombay Stock Exchange (BSE) and National Stock Exchange of India Limited (NSE).
The company also revealed that the equity shares are being offered through the red herring prospectus (RHP) filed by the company with the Registrar of Companies, National Capital Territory of Delhi and Haryana at New Delhi, Securities and Exchange Board of India (SEBI) and Stock Exchanges.
Snapdeal cofounders Kunal Bahl and Rohit Bansal, through a promoter entity '2 Capital Partners' hold a joint stake in Unicommerece, and said in the IPO announcement that they have dropped out of the OFS component of the IPO, thus keeping their stake intact as reported by the Economic Times.
SoftBank owns a 29.2% stake in the company, AceVector holds 38.2%, and B2 Capital owns close to 10% of the company.
Streamlining a Growing E-commerce Sector
Unicommerce plies its trade with its host of (Software as a service) SaaS products and provides e-commerce and logistics companies automated solutions for fulfillment operations that allow them to manage inventory across multiple locations, and process orders for multiple online and offline channels alongside managing returns process.
Kunal Bahl, Promoter and Non-Executive Director of Unicommerce eSolutions Limited said during the IPO announcement that the company's offerings help in streamlining the operations of the ever-growing e-commerce industry in the country.
"Everything that happens after the order is placed and the shipment reaches the doorstep, we provide the software that automates the process."
Unicommerve's offerings manage the post-purchase journey through its product suite comprised of warehouse and inventory management system, enabling businesses to efficiently manage their entire journey of post-purchase e-commerce operations through a comprehensive product suite that includes the warehouse and inventory management system, multi-channel order management system, omnichannel retail management system, seller management panel for marketplaces and its UniShip and UniReco.
More recently, Unicommerce integrated post-purchase technology into the TCNS Clothing Company, a women's ethnic wear brand that holds an INR 38.46 billion market cap.
Kapil Makhija said that India's retail industry is evolving and as more and more brands continue to adopt omnichannel technology, they are not only able to streamline their operational processes but are also enhancing the post-purchase experience for their end consumers.
"Our long-term relationship with TCNS is a testimony of our great product and we are thrilled to provide our omnichannel technology to seamlessly power their online and offline operations," said Kapil Makhija, MD and CEO of Unicommerce after the announcement with TCNS as reported by Outlook.
Unicommerce presently serves clients in Indian logistics, e-retail space, and offline clients namely Lenskart, Fabindia, Zivame, TCNS, Mamaearth, Emami, Sugar, BoAt, Portronics, Pharmeasy, Cello, Urban Company, Mensa, Shiprocket and Xpressbees. "Our long-term relationship with TCNS is a testimony of our great
According to company data, it has processed close to 791.63 million order items through its 'Order Management System' and reports integrations with 131 marketplaces and online stores.
Investors in the SaaS provider include Softbank, and Nexus Venture Partners along with angel investors Kunal Bahl and Rohit Bansal.
