SoftBank-backed SaaS platform Unicommerce E-Solutions Ltd will launch its initial public offering (IPO) on August 6. According to the red herring prospectus (RHP), the initial share sale will end on August 8 and bidding for anchor investors will open for a single day on August 5. According to a Bhasha report, the issue is entirely an offer for sale, involving 2.56 crore equity shares by the selling shareholders.
Who will sell how many shares
According to the news, since the IPO is entirely an offer for sale, the entire proceeds will go to the selling shareholders. Under the offer for sale, SB Investment Holdings (UK) Limited, a subsidiary of Japan’s SoftBank, will sell 1.61 crore shares and promoter AceVector Limited (formerly known as Snapdeal Limited) will sell 94.38 lakh shares. Founded in 2012, Unicommerce E-Solutions is India’s leading e-commerce enabled Software-as-a-Service (SaaS) platform. The company’s suite of SaaS solutions enables end-to-end management of e-commerce operations for brands, retailers, marketplaces and logistics service providers.
Unicommerce E-Solutions provides services to
Unicommerce e-Solutions serves a large and growing base of clients in India including Lenskart, Fabindia, Zivame, TCNS, Mamaearth, Emami, Sugar, Boat, Portronics, Pharmacy, Cello, Urban Company, Mensa, Shiprocket, Xpressbees. In February, Unicommerce said it is expanding its overseas operations by onboarding more clients. It already serves 46 clients in Singapore, Philippines, Indonesia, UAE and Saudi Arabia.
Estimation of the total addressable market
According to a RedSeer report, the total addressable market for players in ecommerce enablement SaaS in the transaction processing or nerve center layer is estimated to be around US$1.2 billion in 2023. This growth is driven by the increasing market potential for core products in this layer, the opportunity to broaden the product portfolio, and international expansion prospects in SEA and the Middle East. Notably, in India, the TAM for core products in the transaction processing layer was estimated to be around US$260 million in 2023. IIIFL Securities and CLSA India are the book-running lead managers to the issue. The shares are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange.
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