SaaS-Startup 'Unicommerce' succeeds Rs.124 crore from Anchor Investors
Prior to its IPO opening on Tuesday (August 6), SaaS startup Unicommerce raised Rs. 124.4 million from 14 anchor investors. Anchor investors were given 1.15 crore equity shares, each valued at Rs. 108, according to the startup.
Through a total of ten schemes, eight domestic mutual funds received 87.29 million equity shares, or 75.75 percent of the total allocation. For a total of Rs. 42 crore SBI Technology Opportunities Fund, Nippon India Mutual Fund, and ICICI Prudential Technology Fund purchased the most shares, 12.96 lakh each. The assets got 11.25% of the anchor financial backer part each.
Unicommerce shares worth Rs.9 billion were given to Morgan Stanley India Investment Fund, with an anchor investor share of 7.23 percent. On the other hand, Aditya Birla Sun Life Trustee Private Limited purchased approximately Rs.8.1 billion worth of shares through the Aditya Birla Sun Life Small cap Fund for a 6.5% stake in the IPO-bound startup. The Prudential Confirmation Organization, Franklin India Innovation Asset, DSP Multicap Asset, HDFC Common Asset, and High Conviction Asset were among the other anchor financial backers.
Only an offer-for-sale (OFS) portion of 2.56 billion equity shares are included in its public offering. For the public offering, the startup has established a price range of Rs.102-108 per equity share. AceVector Ltd. (formerly Snapdeal) and SoftBank are expected to sell 94.38 million equity shares and 1.61 million equity shares, respectively, as part of the OFS.
Kunal Bahl and Rohit Bansal, who co-founded Snapdeal and own a joint stake in Unicommerce through their venture capital firm B2 Capital Partners, had previously planned to sell 22 million equity shares. B2 Capital, on the other hand, no longer sells shares as part of the OFS. FirstCry's initial public offering (IPO) hopes to raise INR 4,193 million on the same day as Unicommerce's.
However, Unicommerce is a profitable company, in contrast to FirstCry and Ola Electric, two of its contemporaries that are planning IPOs. In the fiscal year 2023-2014 (FY24), its net profit more than doubled to Rs. 13.1 Cr, up from Rs. 6.5 Cr the year before. In FY24, its operating revenue increased by 15% year-over-year to Rs.103.58 Cr.
Through a total of ten schemes, eight domestic mutual funds received 87.29 million equity shares, or 75.75 percent of the total allocation. For a total of Rs. 42 crore SBI Technology Opportunities Fund, Nippon India Mutual Fund, and ICICI Prudential Technology Fund purchased the most shares, 12.96 lakh each. The assets got 11.25% of the anchor financial backer part each.
Unicommerce shares worth Rs.9 billion were given to Morgan Stanley India Investment Fund, with an anchor investor share of 7.23 percent. On the other hand, Aditya Birla Sun Life Trustee Private Limited purchased approximately Rs.8.1 billion worth of shares through the Aditya Birla Sun Life Small cap Fund for a 6.5% stake in the IPO-bound startup. The Prudential Confirmation Organization, Franklin India Innovation Asset, DSP Multicap Asset, HDFC Common Asset, and High Conviction Asset were among the other anchor financial backers.
Only an offer-for-sale (OFS) portion of 2.56 billion equity shares are included in its public offering. For the public offering, the startup has established a price range of Rs.102-108 per equity share. AceVector Ltd. (formerly Snapdeal) and SoftBank are expected to sell 94.38 million equity shares and 1.61 million equity shares, respectively, as part of the OFS.
Kunal Bahl and Rohit Bansal, who co-founded Snapdeal and own a joint stake in Unicommerce through their venture capital firm B2 Capital Partners, had previously planned to sell 22 million equity shares. B2 Capital, on the other hand, no longer sells shares as part of the OFS. FirstCry's initial public offering (IPO) hopes to raise INR 4,193 million on the same day as Unicommerce's.
However, Unicommerce is a profitable company, in contrast to FirstCry and Ola Electric, two of its contemporaries that are planning IPOs. In the fiscal year 2023-2014 (FY24), its net profit more than doubled to Rs. 13.1 Cr, up from Rs. 6.5 Cr the year before. In FY24, its operating revenue increased by 15% year-over-year to Rs.103.58 Cr.
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