Unicommerce Receives SEBI Nod for IPO

Unicommerce eSolutions Limited, a leading SaaS company empowering retail and e-commerce operations, has secured approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO). This green light comes after the company submitted its draft red herring prospectus (DRHP) to SEBI six months ago.

Unicommerce Joins IPO League Alongside Other Companies

SEBI’s approval extends beyond Unicommerce, with Gala Precision Engineering Limited, Noida-based Interarch Building Products Limited, and Brainbees Solutions Limited (FirstCry) also receiving the go-ahead for their respective IPOs.

Breakdown of Share Offering

Unicommerce plans to offer up to 2.98 crore equity shares, each with a face value of Rs 1. As per the disclosure document, SEBI received the final observation letter on June 28th, 2024.

Existing Investors to Offload Shares

The company’s promoters, including AceVector Limited (formerly Snapdeal Limited), intend to sell 1.14 crore shares through the offer-for-sale (OFS) route. Other investors, namely B2 Capital Partners and SB Investment Holdings (UK) Limited, will also be offloading a portion of their holdings, with plans to dilute 22.1 lakh and 1.61 crore shares, respectively.

Leading the Public Listing Charge

IIFL Securities Limited and CLSA India Private Limited have been appointed as the lead managers, guiding Unicommerce through the public listing process.

Focus on Existing Shares, No Fresh Issuance

It’s important to note that this IPO will not involve any fresh issue of equity shares by Unicommerce. The New Delhi-based company attracted investments from entities like Anchorage Capital Fund, Madhuri Madhusudan Kela, and a consortium including Rizwan Koita & Jagdish Moorjani, Dilip Vellodi, and others when they filed the DRHP in January 2024.

Unicommerce: Streamlining E-commerce Operations

Founded in 2012 by a team comprising Manish Gupta, Ankit Pruthi, Vibhu Garg, and Karun Singla, Unicommerce offers solutions designed to streamline end-to-end e-commerce operations management. Their services cater to brands, retailers, marketplaces, and logistics service providers.

A Renowned Client Portfolio

Unicommerce boasts an impressive client list exceeding 3,500 companies, including prominent names such as Lenskart, Fabindia, Zivame, TCNS, Mamaearth, Emami, Sugar, BoAt, Portronics, Pharmeasy, GNC, Cello, Urban Company, Mensa, G.O.A.T, Shiprocket, and Xpressbees.

With SEBI’s approval secured, Unicommerce is poised to enter the public market, offering existing investors an exit opportunity and potentially unlocking new growth opportunities for the company.