May 24, 2024

A clutch of traders, together with Anchorage Capital Fund, Madhuri Madhusudan Kela, Rizwan Koita & Jagdish Moorjani, Dilip Vellodi and others not too long ago acquired shares within the firm

Snapdeal-owned SaaS firm Unicommerce has filed a draft purple herring prospectus (DRHP) with market regulator Sebi for a secondary sale of 28.9 million shares, with none contemporary problem element.

Unicommerce is the most recent tech firm to file an preliminary public providing (IPO) prospectus within the final fortnight, after Ola Electrical, Firstcry and Mobikwik.

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The supply contains a suggestion on the market aggregating as much as 29,840,486 fairness shares with face worth of Re 1 every. It contains as much as 11,459,840 fairness shares by AceVector Restricted (previously generally known as Snapdeal Restricted); as much as 2,210,406 fairness shares by B2 Capital Companions and as much as 1,61,70,240 fairness shares by SB Funding Holdings (UK) Restricted.

A clutch of traders, together with Anchorage Capital Fund, Madhuri Madhusudan Kela, Rizwan Koita & Jagdish Moorjani, Dilip Vellodi and others not too long ago acquired shares within the firm.

IIFL Securities Restricted and CLSA India Non-public Restricted are the e-book working lead managers to the difficulty.

Unicommerce noticed its income rise by about 53 p.c to Rs 90 crore in FY23 whereas revenue grew 8 p.c to Rs 6 crore. The IPO-bound firm is on monitor to hit Rs 120-150 crore in income within the ongoing fiscal, in keeping with sources near the developments.

The corporate noticed an 86 p.c leap in its free money flows (FCF) over the earlier fiscal because it elevated from Rs 7.82 crore in FY22 to Rs 14.57 crore in FY23. This helped Unicommerce soak up increased working prices, which elevated from Rs 54.4 crore in FY22 to Rs 84.1 crore in FY23, largely on account of a rise in worker profit bills, server prices and different office-related bills.

Worker profit bills have been the largest price aspect for the corporate, accounting for 74 p.c of the overall expenditure. The rise in worker prices additionally included Rs 2.17 crore of share-based fee transactions.

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The Gurugram-based firm, established in 2012 and bought by Snapdeal in 2015, permits end-to-end administration of e-commerce operations for D2C manufacturers, retail corporations, and different on-line sellers by means of its complete suite of SaaS-based expertise merchandise.