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SoftBank-backed Unicommerce secures $15 Mn from anchor investors

EntrackrEntrackr · 1y ago
SoftBank-backed Unicommerce secures $15 Mn from anchor investors
Medial

Unicommerce, an e-commerce SaaS platform, has allocated shares worth Rs 124.4 crore (around $15 million) to anchor investors ahead of its initial public offering (IPO). The board at Unicommerce has passed a resolution to offer 11,523,831 equity shares at an issue price of Rs 18 each (upper-band) to its anchor investors, its regulatory filing accessed from the Bombay Stock Exchange shows. SBI, ICICI, Morgan Stanley, Nippon, Kotak, Aditya Birla, HDFC, and Franklin India are some key anchor investors for Unicommerce. Out of the total issue, 75.75% of the total allocation was made to 8 domestic mutual funds through 10 schemes, the filing further added. Unicommerce initiated its public offering today (06th August – 08th August) at a price band of (Rs 102-108) with a minimum bid quantity of 138 equity shares. Before the anchor round, AceVector Limited held a 34.91% of Unicommerce followed by SoftBank and B2 Capital Partners own 29.09% and 9.91%, respectively. Madhuri Madhusudan Kela (1.65%), Dilip Vellodi (3.44%), and Anchorage Capital (7.73%) also command significant stakes in the Gurugram-based company. Notably, AceVector’s co-founders, Kunal Bahl and Rohit Bansal, won’t be selling any shares in the OFS. This is probably the only IPO from the internet sector where the founders/promoters aren’t selling any shares. For the fiscal year ending March 2024, Unicommerce reported Rs 103.5 crore in operating revenue against Rs 90 crore in FY23. The company’s profits surged more than two-fold to Rs 13 crore in FY24 from Rs 6.4 crore in the previous fiscal year.

Ixigo gets SEBI nod for IPO; Oyo withdraws listing plans

EntrackrEntrackr · 1y ago
Ixigo gets SEBI nod for IPO; Oyo withdraws listing plans
Medial

Le Travenues Technology Limited, which operates the travel booking platform ixigo, has received the final nod from SEBI for its initial public offering (IPO), the market watchdog notified on Wednesday. In February, Ixigo re-filed its draft red herring prospectus (DRHP) with SEBI for an IPO as the firm proposed to raise Rs 120 crore worth of fresh issue and an offer for sale (OFS) of up to 66,677,674 equity shares. As per DRHP, Elevation Capital, Peak XV Partners and the company’s co-founders Aloke Bajpai and Rajnish Kumar will participate in the offer for sale. The company will use the funds for investments in technology as well as data science, including cloud and server hosting, technology on artificial intelligence and customer engagement. For the nine months ending December 2023, Ixigo recorded Rs 491 crore in revenue from operations with a profit of Rs 65.7 crore. In FY23, its revenue from operations jumped 32% to Rs 501 crore from Rs 379.6 crore in FY22. It also turned profitable in FY23 with Rs 23.4 crore profit against Rs 21 crore loss in FY22. Meanwhile, hospitality firm Oyo has withdrawn its draft IPO papers. As per the SEBI’s website, Oyo parent Oravel Stays withdrew the document on May 17. The Ritesh Aggarwal-led company did not mention the reason behind the back out. Oyo had plans to raise up to $450 million through the sale of dollar bonds. As per a media report, Oyo is seeking funding to the tune of $80-90 million from family offices at an 80% valuation haircut. Earlier, travel tech platform TBO, co-working space provider Awfis and general insurance company Digit also received a nod from SEBI and got listed on the stock exchanges. In the past six months, a clutch of startups have filed their draft IPO papers and are waiting for the approval from SEBI. The notable names include Ola Electric, FirstCry, MobiKwik, and Unicommerce.

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