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19 Nov 2024
Unicommerce eSolutions Limited, a SaaS company, has received approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO), as per the regulator's filing on Monday, July 1.
The Delhi-based company plans to offer up to 2.98 crore equity shares, each with a face value of ₹1. SEBI issued the final observation letter for Unicommerce's IPO on Friday, June 28.
Promoters, including AceVector Limited (formerly Snapdeal Limited), plan to sell 1.14 crore shares. Other investors, such as B2 Capital Partners and SB Investment Holdings (UK) Limited, will sell 22.1 lakh and 1.61 crore equity shares, respectively.
Unicommerce's IPO will not include any fresh issue of equity shares. The Mint reported that investors like Anchorage Capital Fund and Madhuri Madhusudan Kela had acquired stakes in the company during its DRHP filing on January 5, 2024.
Sources mentioned that Unicommerce aims to reach a revenue milestone of ₹120 to 150 crore in the current financial year.
According to its website, Unicommerce has collaborated with over 3,500 clients, including Lenskart, Fabindia, Zivame, TCNS, Mamaearth, Emami, Sugar, BoAt, Portronics, Pharmeasy, GNC, Cello, Urban Company, Mensa, G.O.A.T, Shiprocket, and Xpressbees.
In addition to Unicommerce, SEBI also approved IPO plans for Gala Precision Engineering Limited, Interarch Building Products Limited, and Brainbees Solutions Limited (FirstCry).
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