Unicommerce eSolutions receives SEBI approval for IPO launch
According to a regulatory filing, the firm plans to initiate an offer-for-sale (OFS) of 2.98 crore (2,98,40,486) equity shares with a face value of Rs 1 per share.
-owned retail and ecommerce enablement SaaS platform, eSolutions Limited, has received approval from the for its initial public offering (IPO).
According to a regulatory filing, the firm plans to initiate an offer-for-sale (OFS) of 2.98 crore (2,98,40,486) equity shares with a face value of Rs 1 per share.
The Delhi-based firm submitted its draft red herring prospectus (DRHP) to SEBI for IPO in January this year.
The offer-for-sale includes up to 1.14 crore (1,14,59,840) shares from AceVector Limited (formerly Snapdeal), 22.1 lakh (22,10,406) equity shares from B2 Capital Partners, and 1.61 crore (1,61,70,240) shares from SB Investment Holdings (UK).
IFL Securities and CLSA India have been appointed as the merchant bankers for Unicommerce's IPO.
Founded in 2012, Unicommerce provides SaaS solutions to streamline end-to-end ecommerce operations management for brands, retailers, marketplaces, and logistics service providers. Its clients include , TCNS, , , , , and .
In addition to India, Unicommerce extends its services to six other countries, focusing primarily on Southeast Asia and the Middle East.
In the quarter ended September 30, 2023, the company achieved an annual run-rate of processing 763.82 million order items, serving 743 enterprise clients and 2,830 SMB clients.
According to , Unicommerce handled 20-25% of India's ecommerce dropship volume during FY22.
Edited by Swetha Kannan