Unicommerce eSolutions has filed its Draft Red Herring Prospectus (DRHP) with the market regulator, the Securities and Exchange Board of India (SEBI), for its initial public offering (IPO).  

The IPO involves selling 2,98,40,486 equity shares with a face value of Rs. 1 each, which includes selling shares by different stakeholders: AceVector Limited will be selling up to 1,14,59,840 shares, while B2 Capital Partners and SB Investment Holdings (UK) will sell up to 22,10,406 and 1,61,70,240 shares, respectively. 

Some of the investors, like Anchorage Capital Fund, Madhuri Madhusudan Kela, Rizwan Koita, Jagdish Moorjani, Dilip Vellodi, and others, have recently bought shares in the company 

IIFL Securities Limited and CLSA India are the book-running lead managers for the issue.  

Founded in 2012, the e-commerce enablement platform claims to have been making a profit since FY2021. According to the DRHP, it recorded a 52.56 per cent revenue growth in FY 23, which was up from 47.55 per cent in FY 22. As of September 2023, it achieved an Annual Recurring Revenue (ARR) of Rs 103.74 crores.  

The Snapdeal-owned company’s suite of SaaS solutions enables end-to-end management of e-commerce operations for brands, retailers, marketplaces, and logistics service providers.  

For the quarter that ended September 30, 2023, Unicommerce had an ARR of processing 763.82 million order items for 743 enterprise clients and 2,830 SMB clients. It processed approximately 20-25 per cent of India’s e-commerce dropship volume during FY2022, as per the Redseer Report.  

Besides India, where Unicommerce has a majority of its clients, it also has clients in six other countries, primarily in Southeast Asia and the Middle East. 

Led by managing director and chief executive officer, Kapil Makhija, the company recently inducted five new members into its board for automobiles. These executives include SoftBank's India head, Manoj Kohli, Ullas Kamath of Jyoti Labs, and SHEROES founder and CEO Sairee Chahal as independent directors. Kunal Bahl and Rohit Bansal are the non-executive directors.