SoftBank-backed SaaS platform Unicommerce eSolutions Ltd will launch its Initial Public Offering (IPO) on August 6.
The initial share sale will conclude on August 8 and the bidding for anchor investors will open for a day on August 5, according to the Red Herring Prospectus (RHP).
The issue is entirely an Offer For Sale (OFS) aggregating up to 2.56 crore equity shares by the selling shareholders. Since the IPO is completely an OFS, the entire proceeds will go to the selling shareholders.
Under the OFS, SB Investment Holdings (UK) Ltd, an affiliate of Japan’s SoftBank, will offload 1.61 crore shares and promoter AceVector Limited (formerly known as Snapdeal Limited) will sell up to 94.38 lakh shares.
Founded in 2012, Unicommerce eSolutions is India’s leading e-commerce enablement Software-as-a-Service (SaaS) platform. The company’s suite of SaaS solutions enables end-to-end management of e-commerce operations for brands, retailers, marketplaces and logistics service providers.
It serves a large and growing base of clients in India including Lenskart, Fabindia, Zivame, TCNS, Mamaearth, Emami, Sugar, BoAt, Portronics, Pharmeasy, Cello, Urban Company, Mensa, Shiprocket, Xpressbees.
In February, Unicommerce had said it is expanding its overseas operations by onboarding more clients
It is already serving 46 clients in Singapore, the Philippines, Indonesia, the UAE, and Saudi Arabia and is now expanding these operations by adding more clients.
According to a Redseer Report, the Total Addressable Market (TAM) for players in the eCommerce enablement SaaS in the transaction processing or nerve centre layer was estimated at about USD 1.2 billion in 2023. This growth is driven by the increasing market potential for core products in this layer, an opportunity to broaden the product portfolio, and international expansion prospects in SEA and the Middle East.
Specifically, in India, the TAM for core products in the transaction processing layer was approximately USD 260 million in 2023.
IIIFL Securities and CLSA India are the book-running lead managers to the issue. Shares are proposed to be listed on BSE and the National Stock Exchange.
