Unicommerce Esolutions Sets Price Band for IPO, Expects Valuation of Over Rs 1,100 Crore

Strategic Insights -

Unicommerce Esolutions, a Gurgaon-based company, has announced a price band of Rs 102-108 for its upcoming initial public offering (IPO). The IPO, which will see an offer for sale (OFS) of up to 25.6 million shares, is set to launch on August 6. At the upper end of the price band, the company's valuation is expected to exceed Rs 1,100 crore (approximately $130 million). The anchor investor portion will open on August 5, and the company will list on the exchanges on August 13.

Key Takeaways:

  • Unicommerce Esolutions has set a price band of Rs 102-108 for its IPO, which is expected to value the company at over Rs 1,100 crore at the upper end.
  • The OFS component has been reduced from 29.8 million shares to 25.6 million shares, with SoftBank and promoter AceVector Group (formerly Snapdeal) selling their stakes.
  • The selling shareholders will offload their stakes for Rs 267 crore at the upper end of the price band.
  • B2 Capital Partners, the promoter entity through which Snapdeal cofounders Kunal Bahl and Rohit Bansal hold a stake in Unicommerce, has dropped out of the OFS component.
  • SoftBank owns a 29.2% stake in Unicommerce, while AceVector holds 38.2% and B2 Capital has close to 10% ownership.
  • Unicommerce expanded its board in December, inducting former SoftBank India head Manoj Kohli, FMCG sector veteran Ullas Kamath, and Sheroes founder Sairee Chahal as independent directors, and appointing Bahl and Bansal as non-executive directors.

Statistics:

  • IPO price band: Rs 102-108
  • Expected valuation: Over Rs 1,100 crore at the upper end of the price band
  • OFS component: Up to 25.6 million shares
  • Reduced OFS component: From 29.8 million shares to 25.6 million shares
  • Selling shareholders' stake offload: Rs 267 crore at the upper end of the price band
  • SoftBank's stake: 29.2%
  • AceVector Group's stake: 38.2%
  • B2 Capital's stake: Close to 10%

Sources:

  • Business Standard, August 1, 2023
  • Economic Times, August 1, 2023