Unicommerce files draft IPO papers; SoftBank, AceVector, B2 Capital to sell 29.8 million shares
SaaS firm Unicommerce Esolutions Ltd has filed a draft red herring prospectus (DRHP) for its initial public offering (IPO). Through the offering, its shareholders – AceVector Group, B2 Capital and SoftBank — are together offloading 29.8 million shares.
Unicommerce Esolutions is not raising any fresh capital through the IPO.
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As of date, SoftBank owns 29.2% stake in the company, while AceVector holds 38.2%. B2 Capital has close to 10% stake in Unicommerce.
For the first six months of FY24, Unicommerce reported revenue from operations of Rs 51 crore, a 24% year-on-year increase. Its net profit for April-September 2023 period came in at over Rs 6 crore, compared to nearly Rs 2 crore in the same period of FY23.
It reported a 52% on-year increase in its operating revenue for the full year ending March 31, 2023 to Rs 90 crore from Rs 59 crore in FY22. Its net profit for the period had increased by 8% to Rs 6.4 crore in FY23 from nearly Rs 6 crore in FY22.
In November, ET had reported that the company had commenced the book-building process for its IPO and capital markets and investment firm CLSA was roped in as one of the managers for the issue.
In December, Unicommerce had expanded its board of directors, onboarding former SoftBank India
