Unicommerce eSolutions IPO price band fixed at ₹102-₹108 a share; check details

SoftBank-backed SaaS platform Unicommerce eSolutions announced on Thursday that it has set a price band of ₹102-₹108 per share for its initial public offering. The company's IPO will go live on August 6 and conclude on August 8.

The ₹276-crore public offer is solely an offer-for-sale (OFS) of 2.56 crore shares by selling shareholders. As it is entirely an OFS, the IPO proceeds will go to shareholders disinvesting their stake.

Under the OFS, SoftBank's affiliate SB Investment Holdings (UK) will sell 1.61 crore shares, and promoter AceVector Ltd (earlier called Snapdeal Ltd) will offload up to 94.38 lakh shares.

The company has reserved 75% of the issue for qualified institutional buyers (QIBs), 35% for non-institutional investors (NIIs) and 10% for retail individual investors (RIIs).

Interested investors can place a bid for a minimum of 138 shares and in multiples after that.

CLSA India and IIFL Securities are the book-running lead managers to the issue.

About Unicommerce eSolutions

Its clients in India include Lenskart, Zivame, Fabindia, TCNS, Emami, Sugar, Mamaearth, BoAt, Pharmeasy, Portronics, Cello, Urban Company, Shiprocket, Xpressbees and Mensa.

In February, Unicommerce said it expanded its overseas operations by onboarding more clients.

It already serves 46 clients in Singapore, Indonesia, the Philippines, the UAE, and Saudi Arabia.

According to a Redseer Report, the total addressable market (TAM) for players in the eCommerce enablement SaaS in the nerve centre layer or transaction processing was estimated at $1.2 billion in 2023. This growth is driven by the increasing market potential for core products in this layer, an opportunity to broaden the product portfolio, and international expansion prospects in SEA and the Middle East.

Specifically, in 2023, the TAM for core products in the transaction processing layer in India was approximately USD 260 million.