SoftBank-backed retail and e-commerce software platform Unicommerce Esolutions Ltd has secured Rs 124.5 Crore from its anchor investors, a day ahead of its IPO from domestic as well as foreign investors, according to information published by the company.
According to reports, investors including SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Morgan Stanley, Franklin Templeton, and the Prudential Assurance Company participated in the anchor investment round.
Of the total allocation of 1.15 crore equity shares priced at Rs 108 each for the anchor investors, the upper end of the price band (Rs 102-108) is set for its IPO.
On Tuesday the Gurugram-based ecommerce company will open its issue for public bidding. The company will close its IPO on August 8 and the stock will be listed on the exchanges on the 13th of August.
Unicommerce’s IPO which does not have a fresh issue component, will see an offer-for-sale (OFS) of up to 25.6 million shares.
The company will see SoftBank and promoter AceVector Group (formerly Snapdeal) sell stakes. B2 Capital Partners, through which Snapdeal co-founders Kunal Bahl and Rohit Bansal hold a stake jointly in the e-commerce platform, has dropped out of the OFS component. Earlier, B2 Capital is planning to sell up to 22 million worth of shares.
As of today, SoftBank owns a 29.2% stake in the company, and on the other hand, AceVector holds 38.2%, while B2 Capital owns close to 10%.
Unicommerce founded in 2012, offers technology products to manage operations including warehouse and inventory management, order management, omnichannel retail management, and seller management to ecommerce platforms.
