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Unicommerce Secures ₹124 Crore from Anchor Investors Ahead of IPO

Unicommerce Secures ₹124 Crore from Anchor Investors | News

Unicommerce Secures ₹124 Crore from Anchor Investors Ahead of IPO

SoftBank-backed Unicommerce Esolutions Ltd, a leading ecommerce software platform, has successfully closed the anchor portion of its initial public offering (IPO), raising over ₹124 crore from a mix of domestic and foreign investors. This crucial step in the IPO process was announced on Monday, indicating strong investor confidence in the company’s growth prospects and market position.

Anchor Investors and Share Allocation

Prominent institutional investors such as SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Morgan Stanley, Franklin Templeton, and The Prudential Assurance Company have participated in the anchor investment round. These investors have been allocated shares at ₹108 per share, which is the upper end of the price band set by the company for its IPO, indicating high demand and a positive outlook towards Unicommerce.

IPO Timeline and Details

Unicommerce Esolutions Ltd will open its public issue for bidding on August 6, with the subscription window closing on August 8. The shares are scheduled to be listed on the exchanges on August 13. Unlike typical IPOs, this offering does not include a fresh issue component; instead, it will consist solely of an offer-for-sale (OFS) of up to 25.6 million shares.

Offer-for-Sale (OFS) Adjustments

Initially, the company planned to offload 29.8 million shares through the OFS. However, this has been truncated to 25.6 million shares. Significant stakeholders like SoftBank and the AceVector Group (formerly known as Snapdeal) are set to reduce their stakes. Interestingly, B2 Capital Partners, the promoter entity through which Snapdeal cofounders Kunal Bahl and Rohit Bansal hold their stake, has decided not to participate in the OFS. Initially, B2 Capital had intended to sell up to 2.2 million shares.

Current Shareholding Structure

As of today, SoftBank has a 29.2% stake in Unicommerce, AceVector holds 38.2%, and B2 Capital owns nearly 10%. This strategic shareholding distribution underscores the robust backing and significant interest from prominent investors in the company’s potential and growth trajectory.

Company Overview and Market Position

Founded in 2012, Unicommerce Esolutions Ltd has established itself as a premier provider of technology solutions tailored for the ecommerce industry. The company’s product suite includes:

Clientele and Market Reach

Unicommerce boasts an impressive roster of clients, including leading new-age consumer companies such as Myntra, Lenskart, Mamaearth, and Boat. These partnerships highlight the company’s ability to cater to diverse and demanding ecommerce businesses, providing scalable and efficient technology solutions that drive operational excellence.

Strategic Importance of the IPO

The IPO is a strategic move to unlock value for existing shareholders and provide a platform for further growth and expansion. The funds raised through the OFS will enable stakeholders like SoftBank and AceVector Group to partially exit, while also giving new investors an opportunity to participate in Unicommerce’s growth journey.

Growth Potential and Future Plans

Unicommerce’s growth potential lies in its continuous innovation and ability to adapt to the evolving ecommerce landscape. The company plans to:

  1. Expand Product Offerings: Introduce new features and solutions to enhance its existing platform.
  2. Geographical Expansion: Penetrate new markets both domestically and internationally.
  3. Strengthen Technological Infrastructure: Invest in cutting-edge technology to improve service delivery and customer satisfaction.
  4. Strategic Partnerships: Forge alliances with other ecommerce players to broaden its market reach and service capabilities.

Financial Performance

Unicommerce has demonstrated consistent financial performance, driven by its innovative solutions and strong client relationships. The company’s ability to generate steady revenue streams from its diverse product offerings positions it well for sustainable growth.

Investment Considerations

Key Factors for Investors:

Risks and Challenges:

Conclusion

The IPO of Unicommerce Esolutions Ltd presents a compelling opportunity for investors looking to invest in a leading ecommerce software platform with strong growth potential. With a solid foundation, a reputable client base, and strategic growth plans, Unicommerce is well-positioned to capitalize on the expanding ecommerce market.

Disclaimer: The opinions and recommendations provided above reflect the views of individual analysts or brokerage firms and do not represent those of OSTP Media. We recommend that investors consult with certified experts before making any investment decisions.

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