New Delhi, Jan 6 (PTI) E-commerce-focussed IT firm Unicommerce has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO).

The issue is entirely an offer for sale (OFS) aggregating up to 2.98 crore equity shares by the selling shareholders, according to the Draft Red Herring Prospectus (DRHP) filed with Sebi.

Also Read | RPF Recruitment 2024: Notification Released For 2,250 Constable and SI Posts; Know Age Limit, Educational Qualification and Other Details.

Under the OFS, SB Investment Holdings (UK) Ltd, an affiliate of Japan's SoftBank, will offload 1.61 crore shares, promoter AceVector Limited (formerly known as Snapdeal Limited) will sell up to 1.14 crore shares and B2 Capital Partners will be selling up to 22 lakh shares.

Since the IPO is completely an OFS, the entire proceeds will go to the selling shareholders.

Also Read | GATE 2024 Admit Card for Graduate Aptitude Test in Engineering Examination Likely To Be Released Today at gate2024.iisc.ac.in, Know How To Download.

Unicommerce eSolutions is the fifth tech company which has filed IPO papers. Awfis Space Solutions, Ola Electric, Firstcry, and MobiKwik are the other technology companies that have filed draft papers in the past two weeks.

Founded in 2012, Unicommerce eSolutions is India's leading e-commerce enablement Software-as-a-Service (SaaS) platform.

The company's suite of SaaS solutions enables end-to-end management of e-commerce operations for brands, retailers, marketplaces and logistics service providers. It serves a large and growing base of clients in India including Lenskart, Fabindia, Zivame, TCNS, Mamaearth, Emami, Sugar, BoAt, Portronics, Pharmeasy, Cello, Urban Company, Mensa, Shiprocket, Xpressbees.

Unicommerce has been PAT-positive since FY21.

For the quarter ended September 30, 2023, the company had an annual run rate of processing 763.82 million order items for 743 enterprise clients and 2,830 SMB clients.

The company processed about 20-25 per cent of India's e-commerce dropship volume during Fiscal 2022, as per the Redseer Report.

Recently, a clutch of renowned investors, including Anchorage Capital Fund, Madhuri Madhusudan Kela, Rizwan Koita & Jagdish Moorjani, Dilip Vellodi and others recently acquired shares in the company.

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

Shares are proposed to be listed on BSE and the National Stock Exchange.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)