E-commerce platform Unicommerce set its price band at Rs 102 to Rs 108 a share. The company will launch its Initial Public Offering (IPO) on August 6 and close on August 8.
The allocation of shares to anchor investors for the IPO is set to occur on August 5. The proposed IPO would not have any fresh issue. Funds will be raised through an offer for sale of up to 2,98,40,486 equity shares.
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.
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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.
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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.
(With inputs from PTI)
