Unicommerce eSolutions Sets Dates for Upcoming IPO: Key Details and Offer Structure
Unicommerce eSolutions, a prominent e-commerce enablement Software-as-a-Service (SaaS) platform, has announced the schedule for its initial public offering (IPO). The subscription period for the IPO will begin on August 6 and conclude on August 8, 2024. The company will also hold an anchor investor round a day prior, on August 5, 2024, according to its Red Herring Prospectus (RHP) filed with the Securities and Exchange Board of India (SEBI).
Offer Details and Allocation
The IPO will feature an offer for sale (OFS) of up to 2.56 crore shares, each with a face value of Re 1. AceVector Ltd and SB Investment Holdings (UK) will be selling part of their stakes in the company through this OFS. The company has yet to finalize the price band and the minimum bid lot, which will be announced in conjunction with the book-running lead managers.
Under the OFS structure, up to 60% of the Qualified Institutional Buyers (QIB) portion may be allocated to anchor investors on a discretionary basis. Moreover, 5% of the QIB allocation will be reserved for mutual funds, with the remainder being distributed proportionately among all QIB bidders other than anchor investors, including mutual funds. If demand from mutual funds falls short of 5%, the excess will be reallocated to the remaining QIB portion. Additionally, no more than 15% of the offer will be available for non-institutional bidders, while at least 10% will be set aside for retail individual bidders.
Listing and Proceeds
The shares from the IPO will be listed on both the NSE and BSE platforms. The proceeds from the offer for sale will be received by the selling shareholders, not by Unicommerce eSolutions. Consequently, the company itself will not benefit financially from the OFS.
Company Background
Founded in 2012, Unicommerce eSolutions specializes in providing comprehensive e-commerce solutions. Its SaaS platform supports end-to-end management of e-commerce operations, catering to brands, retailers, marketplaces, and logistics providers. The company boasts a substantial and expanding client base, including major 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.
Beyond India, Unicommerce has established a presence in six other countries across Southeast Asia and the Middle East, highlighting its international growth.
Lead Managers and Registrar
IIFL Securities and CLSA India have been appointed as the book-running lead managers for the IPO. Link Intime India will serve as the registrar for the offer.
As the IPO date approaches, investors and market watchers will be keenly anticipating further updates, including the final pricing and bidding details. This move by Unicommerce eSolutions is expected to enhance its visibility and support its growth ambitions, leveraging the capital markets to fuel its expansion and innovation in the e-commerce sector.
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