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SoftBank-backed Unicommerce secures $15 Mn from anchor investors

EntrackrEntrackr · 11m 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.

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Unicommerce IPO sees 5.6X oversubscription from retail buyers

EntrackrEntrackr · 11m ago
Unicommerce IPO sees 5.6X oversubscription from retail buyers
Medial

The initial public offering of e-commerce SaaS platform Unicommerce was fully subscribed by retail investors within the first three hours of its opening. The Unicommerce IPO is scheduled from August 6 to 8, with a price band set at Rs 102-108 per share and a minimum lot size of 138 shares. To participate, investors must make a minimum investment of Rs 14,076. As of 3:11 PM (August 6), the retail portion in the Gurugram-based firm’s IPO has been oversubscribed by 5.58 times, while non-institutional investors have filled 82% of their allotted portion. The SoftBank-backed company also allocated Rs 124 crore or $15 million to its anchor investors yesterday. SBI, ICICI, Morgan Stanley, Nippon, Kotak, Aditya Birla, HDFC, and Franklin India are some key anchor investors for Unicommerce. The company demonstrated strong financial growth in the past two years as its revenue surged from Rs 59 crore in FY22 to Rs 104 crore in FY24. Significantly, the firm’s profit spiked over 2X in the same period.

Tagged as promoter of Snapdeal-backed Unicommerce eSolutions, SoftBank seeks indemnity rights from Kunal Bahl, Rohit Bansal

Money ControlMoney Control · 1y ago
Tagged as promoter of Snapdeal-backed Unicommerce eSolutions, SoftBank seeks indemnity rights from Kunal Bahl, Rohit Bansal
Medial

Market regulator SEBI has designated SoftBank as the promoter of Unicommerce eSolutions, a SaaS company backed by Snapdeal. In response, SoftBank has entered into an indemnity agreement with Snapdeal's founders, Kunal Bahl and Rohit Bansal, to protect itself and its executives from any liabilities arising from being classified as a promoter. Unicommerce has identified AceVector Limited, Starfish I Pte. Ltd (a SoftBank entity), and Kunal Bahl and Rohit Bansal as its promoters. This move reflects SEBI's increased scrutiny on promoters and promoter groups of IPO-bound companies, which has prompted more indemnity agreements between investors and founders.

FirstCry raises $227 Mn from anchor investors ahead of IPO

EntrackrEntrackr · 11m ago
FirstCry raises $227 Mn from anchor investors ahead of IPO
Medial

BrainBees Solutions Limited, the parent company of FirstCry, has offered Rs 1,886 crore (approximately $227 million) worth of shares to 71 anchor investors as part of its initial public offering. The board at FirstCry has passed a resolution to offer 4,05,55,428 equity shares at an issue price of Rs 465 each (upper-band) to its anchor investors, its regulatory filing accessed from the Bombay Stock Exchange shows. SBI, Fidelity, Goldman Sachs, ICICI, HDFC, Kotak, Bajaj Allianz, Steadview, Morgan Stanley, and Max Life are some key anchor investors in Firstcry’s IPO. FirstCry will initiate its public offering from August 6 to August 8 with a price band of Rs 440-465 with a minimum bid quantity of 32 shares. Before the anchor investment round, SoftBank was the largest shareholder in FirstCry with a 25.53% stake followed by Mahindra & Mahindra and Premji Invest which hold 10.97% and 10.36% respectively. The company’s founder Supam Maheshwari has 6% of the share capital while the entire ESOP pool forms 8.4% of the cap table. FirstCry demonstrated decent growth during the last fiscal year. Its operating revenue increased by 15% to Rs 6,481 crore while the Pune-based firm managed to control its losses by 34% to Rs 321 crore in FY24 with an improved EBITDA margin. As per the company’s DRHP, it had 1,018 offline stores across the country out of which 632 were franchise-owned while remaining owned by the company until the end of the last calendar year (2023).

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