AceVector Ltd., formerly known as Snapdeal, its subsidiary Unicommerce has filed a draft red herring prospectus (DRHP) with SEBI for its IPO.
According to DRHP, the IPO of the e-commerce solutions platform will be a complete offer for sale (OFS) which will include up to 2.98 crore shares.
IPO details
The shareholders who will sell their shares include parent company SVector which will put 1.14 crore shares for sale. While investors B2 Capital Partners and SB Investment Holdings (UK) will sell about 22.1 lakh and 1.61 crore shares.
Since the IPO is completely an offer for sale, the company will not earn any money from the listing. Unicommerce is a SaaS solutions provider. Its software will help in end-to-end management of e-commerce operations for brands, retailers, marketplaces and logistics service providers. It has Lenskart, Fabindia, Zivame, Mamaearth, Emami, Boat, PharmEasy, ShipRocket, ExpressBiz as clients.
The company made a profit of Rs 6.3 crore in the first 6 months.
According to the latest data, in the first six months the company’s income was Rs 51.1 crore and profit was Rs 6.3 crore. The company’s income for FY23 was Rs 90 crore.
The unicommerce company has been profitable since FY21 and claimed annual recurring revenue of Rs 103.7 crore. The company was launched in 2012 and became a part of Svector Group in 2022, which was started by Kunal Bahl and Rohit Bansal. Apart from Snapdeal, many brands are included in this group.
