Snapdeal-Owned Unicommerce Files DRHP With SEBI The company offers SaaS solutions to enable end-to-end management of e-commerce operations for brands, retailers, marketplaces and logistics service providers
By S Shanthi
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E-commerce enablement SaaS (Software-as-a-Service) platform Unicommerce has filed its Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) for IPO.
The offer comprises an offer for sale (OFS) aggregating up to 2,98,40,486 equity shares by the "Selling Shareholder" (OFS) with face value of Rs. 1 each equity share. The OFS comprises up to 1,14,59,840 equity shares by AceVector Limited (formerly Snapdeal Limited); up to 22,10,406 equity shares by B2 Capital Partners and up to 1,61,70,240 equity shares by SB Investment Holdings (UK) Limited.
A clutch of investors, including Anchorage Capital Fund, Madhuri Madhusudan Kela, Rizwan Koita & Jagdish Moorjani, Dilip Vellodi and others recently acquired shares in the company. IIFL Securities Limited and CLSA India Private Limited are the Book Running Lead Managers to the Issue.
Founded in 2012 and acquired by Snapdeal in 2015, Unicommerce offers a suite of SaaS solutions that enable end-to-end management of e-commerce operations for brands, retailers, marketplaces and logistics service providers. It's clients include, among others, Lenskart, Fabindia, Zivame, TCNS, Mamaearth, Emami, Sugar, BoAt, Portronics, Pharmeasy, GNC, Cello, Urban Company, Mensa, G.O.A.T, Shiprocket, Xpressbees and others. Besides India, the company claims to also have clients in six other countries, primarily in South East Asia and the Middle East.
The company has been PAT-positive since FY 21, according to DRHP, which also adds that the company has a consistent track record of profitability and growth, with revenue growth of 52.56% and 47.55% over the previous fiscal years in FY 23 & FY 22, respectively. Further, for the period ended September 2023, Unicommerce achieved an Annual Recurring Revenue (ARR) of INR 103.74 Crores.
