Unicommerce Esolutions Ltd, an ecommerce software platform backed by SoftBank, has successfully concluded the anchor portion of its initial public offering (IPO). The company allocated shares worth over Rs 124 crore to both domestic and foreign investors, as reported by the firm.
Notable investors in this round include SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Morgan Stanley, Franklin Templeton, and the Prudential Assurance Company. Shares have been allocated at Rs 108 each, which is at the top end of the price band set for the IPO (Rs 102-108).
The IPO will open for public bidding on Tuesday, with the subscription period closing on August 8. The stock is set to be listed on the exchanges on August 13.
The IPO will consist of an offer-for-sale (OFS) of up to 25.6 million shares, excluding a fresh issue component. This OFS amount has been reduced from the previously planned 29.8 million shares. SoftBank and the promoter, AceVector Group (formerly Snapdeal), will be selling their stakes through this OFS.
B2 Capital Partners, a promoter entity through which Snapdeal cofounders Kunal Bahl and Rohit Bansal hold a stake in Unicommerce, has withdrawn from the OFS. B2 Capital had initially planned to sell up to 2.2 million shares. Currently, SoftBank holds a 29.2% stake in Unicommerce, AceVector controls 38.2%, and B2 Capital holds approximately 10%.
Founded in 2012, Unicommerce provides technology solutions for managing various ecommerce operations, including warehouse and inventory management, order management, omnichannel retail management, and seller management. Its clients include prominent consumer companies like Myntra, Lenskart, Mamaearth, and Boat.
