Unicommerce IPO: Rs 124 Cr Raised from Anchor Investors

New Delhi, Aug 5 (PTI) SoftBank-backed SaaS platform Unicommerce eSolutions Ltd on Monday said it has garnered over Rs 124 crore from anchor investors ahead of its initial share sale opening for public subscription.

SBI Mutual Fund (MF), ICICI Prudential MF, HDFC MF, Kotak MF, Nippon India MF, DSP MF, Aditya Birla Sun Life MF, Morgan Stanley Investment Management and Franklin Templeton Fund are among the anchor investors, according to a circular upload on BSE's website.

As per the circular, Unicommerce has allocated 1,15,23,831 equity shares to 14 funds at Rs 108 apiece, aggregating the transaction size to Rs 124.46 crore.

The issue, with a price band of Rs 102 to Rs 108 crore a share, will open for public subscription between August 6 and August 8.

The issue is entirely an offer for sale (OFS) aggregating up to 2.56 crore equity shares valued at Rs 276.6 crore at the upper end of the price band.

Since the IPO is completely an OFS, the entire proceeds will go to the selling shareholders.

Under the OFS, SB Investment Holdings (UK) Ltd, an affiliate of Japan's SoftBank, will offload 1.61 crore shares, and promoter AceVector Limited (formerly known as Snapdeal Limited) will sell up to 94.38 lakh shares.

Founded in 2012, Unicommerce eSolutions is India's leading e-commerce enablement 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.

It serves a large and growing base of clients in India, including Lenskart, Fabindia, Zivame, TCNS, Mamaearth, Emami, Sugar, BoAt, Portronics, Pharmeasy, Cello, Urban Company, Mensa, Shiprocket and Xpressbees.

The company said 75 per cent of the issue size has been reserved for qualified institutional buyers, 35 per cent for non-institutional investors, and the remaining 10 per cent for retail investors.

Investors can bid for a minimum of 138 equity shares and in multiples thereof.

IIFL Securities and CLSA India are the book-running lead managers to the issue.
Shares of the company will be listed on BSE and the National Stock Exchange.