Unicommerce, a leading e-commerce SaaS platform, has successfully raised Rs 124.4 crore (approximately $15 million) from anchor investors as part of its upcoming initial public offering (IPO). The company has allocated 11,523,831 equity shares at an upper-band issue price of Rs 18 each, according to its regulatory filing with the Bombay Stock Exchange.
Prominent investors in this anchor round include major financial institutions such as SBI, ICICI, Morgan Stanley, Nippon, Kotak, Aditya Birla, HDFC, and Franklin India. Notably, 75.75% of the shares in this allocation were secured by eight domestic mutual funds through ten different schemes.
Unicommerce commenced its public offering on August 6th, with the issue set to close on August 8th. The IPO is being offered within a price band of Rs 102-108, with a minimum bid requirement of 138 equity shares.
In terms of ownership, AceVector Limited is the largest shareholder with a 34.91% stake in Unicommerce, followed by SoftBank and B2 Capital Partners with 29.09% and 9.91% stakes, respectively. Other significant stakeholders include Madhuri Madhusudan Kela (1.65%), Dilip Vellodi (3.44%), and Anchorage Capital (7.73%). Notably, co-founders Kunal Bahl and Rohit Bansal of AceVector will not be selling any shares in the offer for sale (OFS), a rarity for IPOs in the internet sector.
For the fiscal year ending March 2024, Unicommerce reported a notable increase in operating revenue, reaching Rs 103.5 crore compared to Rs 90 crore in FY23. The company’s profits also saw a significant jump, more than doubling to Rs 13 crore from Rs 6.4 crore in the previous fiscal year.
