Unicommerce eSolutions
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 06 Aug 2024 – 08 Aug 2024
- Listing date
- 13 Aug 2024
- Face value
- ₹1 per share
- Issue price
- ₹108 per share
- Lot size
- 138 shares
- Issue type
- Book Building issue
- Total issue size
- ₹277 Cr
- Market cap at offer price
- ₹1,106 Cr
- Promoter holding
- 48.63% → 39.42% pre-issue → post-issue
- ISIN
- INE00U401027
- Registrar
- MUFG Intime India Pvt.Ltd.
- Lead managers
- IIFL Capital Services Ltd.
- Registered office
- Mezzanine Floor, A-83, Okhla Industrial Area, Ph-II, New Delhi
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 1,15,23,831 | — | — |
| Market maker | 0 | — | — |
Application size
Minimum 138 shares per lot, in multiples, at ₹108
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 138 | ₹14,904 |
| Retail (max) | 13 | 1,794 | ₹1,93,752 |
| S-HNI (min) | 14 | 1,932 | ₹2,08,656 |
| S-HNI (max) | 67 | 9,246 | ₹9,98,568 |
| B-HNI (min) | 68 | 9,384 | ₹10,13,472 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 1.28 | 1.28 |
| P/E (×) | 84.38 | 84.38 |
| Price to book (×) | 15.81 | — |
| Market cap | — | ₹1,106 Cr |
Key performance indicators
- Return on net worth
- 18.98%
- ROCE
- 25.93%
- PAT margin
- 12.63%
- NAV per share
- ₹6.83
- Price to book
- 15.81
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Unicommerce eSolutions
Unicommerce eSolutions Limited was incorporated on February 2, 2012 in New Delhi as a private limited company and was converted into a public limited company in December 2023. It provides an e-commerce enablement Software-as-a-Service (SaaS) platform in the 'transaction processing or nerve centre layer' that enables end-to-end management of e-commerce operations for brands, sellers and logistics service provider firms. Its suite of products includes a warehouse and inventory management system, multi-channel order management system, omni-channel retail management system, seller management panel for marketplaces, and newer offerings UniShip and UniReco (test versions introduced in Fiscal 2024), supported as of March 31, 2024 by 131 marketplace and webstore integrations, 101 logistics partner integrations and 11 ERP, POS and other system integrations. The business is subscription-based, with revenues tied to transaction volumes on e-commerce platforms; in the quarter ended March 31, 2024 it served 795 enterprise and 2,707 SMB clients, with an annual run-rate of processing 791.63 million order items. Per the Redseer Report, it was India's largest e-commerce enablement SaaS platform in the transaction processing layer by revenue for Fiscal 2023 and the only profitable company among the top five players in the industry. For Fiscal 2024, revenue from contract with customers was ₹1,035.81 million and restated profit for the year was ₹130.78 million. The company is promoted by AceVector Limited (formerly known as Snapdeal Limited), Starfish I Pte. Ltd., Kunal Bahl and Rohit Kumar Bansal, while SoftBank-linked SB Investment Holdings (UK) Limited is the investor selling shareholder. Its IPO is a 100% offer for sale of up to 25,608,512 equity shares of face value ₹1 each, so the company will not receive any proceeds from the Offer.
Company Analysis
from RHPUnicommerce eSolutions Limited provides an e-commerce enablement Software-as-a-Service (SaaS) platform — spanning e-commerce technology and retail/logistics software — that enables end-to-end management of post-purchase e-commerce operations for brands, sellers and logistics service provider firms.
Unicommerce eSolutions Limited was incorporated on February 2, 2012 in New Delhi as a private limited company and was converted into a public limited company in December 2023. It provides an e-commerce enablement Software-as-a-Service (SaaS) platform in the 'transaction processing or nerve centre layer' that enables end-to-end management of e-commerce operations for brands, sellers and logistics service provider firms. Its suite of products includes a warehouse and inventory management system, multi-channel order management system, omni-channel retail management system, seller management panel for marketplaces, and newer offerings UniShip and UniReco (test versions introduced in Fiscal 2024), supported as of March 31, 2024 by 131 marketplace and webstore integrations, 101 logistics partner integrations and 11 ERP, POS and other system integrations. The business is subscription-based, with revenues tied to transaction volumes on e-commerce platforms; in the quarter ended March 31, 2024 it served 795 enterprise and 2,707 SMB clients, with an annual run-rate of processing 791.63 million order items. Per the Redseer Report, it was India's largest e-commerce enablement SaaS platform in the transaction processing layer by revenue for Fiscal 2023 and the only profitable company among the top five players in the industry. For Fiscal 2024, revenue from contract with customers was ₹1,035.81 million and restated profit for the year was ₹130.78 million. The company is promoted by AceVector Limited (formerly known as Snapdeal Limited), Starfish I Pte. Ltd., Kunal Bahl and Rohit Kumar Bansal, while SoftBank-linked SB Investment Holdings (UK) Limited is the investor selling shareholder. Its IPO is a 100% offer for sale of up to 25,608,512 equity shares of face value ₹1 each, so the company will not receive any proceeds from the Offer.
Objects of the Issue
- Carry out the Offer for Sale of up to 25,608,512 Equity Shares of face value of ₹1 each by the Selling Shareholders (proceeds go to the Selling Shareholders; the Company will not receive any proceeds from the Offer) up to ₹[●] million p.105
- Achieve the benefits of listing the Equity Shares on the Stock Exchanges p.105
Issue Structure
- Total Issue
- Up to 25,608,512 Equity Shares of face value of ₹1 each aggregating up to ₹[●] million (100% Offer for Sale)
- Fresh Issue
- Not applicable
- Offer for Sale
- Up to 25,608,512 Equity Shares of face value of ₹1 each aggregating up to ₹[●] million, comprising up to 9,438,272 Equity Shares by AceVector Limited (formerly known as Snapdeal Limited) and up to 16,170,240 Equity Shares by SB Investment Holdings (UK) Limited
- Face Value
- ₹1 each
Business Model
Subscription-based SaaS model: the company earns revenue from contract with customers (SaaS income) from enterprise and SMB clients, and its revenues are based on transaction volumes on e-commerce platforms, typically a function of the growth of online sales of its clients.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| AceVector Limited (formerly known as Snapdeal Limited) | Corporate Promoter / Promoter Selling Shareholder | 37.88% | — |
| Starfish I Pte. Ltd. | Corporate Promoter | Nil | Nil |
| Kunal Bahl | Individual Promoter | 10.75% (held indirectly as partner of B2 Capital Partners) | 10.75% |
| Rohit Kumar Bansal | Individual Promoter | 10.75% (held indirectly as partner of B2 Capital Partners) | 10.75% |
| B2 Capital Partners | Promoter Group | 10.75% | 10.75% |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.