India's largest e-commerce enabled SaaS platform Unicommerce eSolutions Limited has filed its draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).
According to DRHP, the company has a consistent track record of profitability and growth, with revenue growth of 52.56% and 47.55% in the previous financial years in FY23 and FY22, respectively.
“The Offer comprises an offer for sale of up to 2,98,40,486 equity shares of the Selling Shareholder (the Offer for Sale) having a face value of Rs.1 per share. The offer for sale comprises up to 1,14,59,840 shares of AceVector Limited (formerly known as Snapdeal Limited) (Promoter Selling Shareholder); up to 22,10,406 shares of B2 Capital Partners and up to 1,61,70,240 shares of SB Investment Holdings (UK) Limited (Investor Selling Shareholder),” according to the DRHP filing.
The company's suite of SaaS solutions enables the management of e-commerce operations for brands, retailers, marketplaces and logistics providers.
Unicommerce recorded an annual processing rate of 763.82 million order lines for 743 enterprise customers and 2,830 SMB customers in the quarter ended September 30, 2023, the filing added. As per Redseer report, the company handled around 20-25% of India's e-commerce dropship volume in FY2022.
(Edited by: Sudarsanan Mani)
First Published: January 6, 2024, 7:14 PM IST
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