 "IPO")
IPO-bound SaaS platform Unicommerce is expanding its overseas operations by onboarding more clients, a top official said on Tuesday.
Unicommerce is already serving 46 clients in Singapore, the Philippines, Indonesia, the UAE, and Saudi Arabia and is now expanding these operations by adding more clients.
Some of its clients in these markets include the UAE-based fashion brand Redtag, the Philippines-based kids' wear brand Edamama and the UAE-based logistics player RSA Global.
"After building a solid foundation in the country, international markets are a growth area for us now and we will now be expanding our operation in these overseas markets.
"The domestic e-commerce market is ahead of most other markets in the region allowing us to offer future-ready solutions for our overseas clients," Kapil Makhija, managing director & chief executive told PTI Tuesday.
Its domestic clientele includes Lenskart, Fabindia, Zivame, TCNS, Mamaearth, Emami, Sugar, Boat, Portronics, Pharmeasy, GNC, Cello, Urban Company, Mensa, Goat, Shiprocket, Xpressbees etc.
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And its product portfolio includes an order management system, warehouse and inventory management systems, omnichannel retail management system, and seller management panel among others.
Unicommerce offers SaaS-based integrated e-commerce enablement solutions that help end-to-end management of e-commerce operations for brands, retailers, marketplaces and logistics service providers.
Its solutions help manage categories such as fashion, electronics, FMCG, beauty & personal care, sports & fitness, nutrition, health & pharma, as well as third-party logistics and warehousing.
For its international clients, Unicommerce adds local taxation support, local language invoices and shipping label generation, and country-focused integration to support businesses in specific regions. For instance, in Saudi Arabia and the UAE, it offers shipping labels and invoices in Arabic.
Unicommerce has filed its draft DRHP in January 2024 and according to the filing Unicommerce is the only profitable company among the top five players in this segment in the country in fiscal 2022, according to a Redseer Report.
Established in 2012 in Delhi, Unicommerce has been PAT-positive since FY21.
For the period ended September 2023, Unicommerce had an annual recurring revenue of Rs 103.74 crore. It is also expanding its product portfolio with new launches aimed at domestic and international clients in the Middle East and Southeast Asia.
In the IPO, which will be an offer-for-sale only the promoter entity Acevector will pare 27.13 per cent of its 38.18 per cent holding in the company.
Investor shareholders SB Investment Holdings (SoftBank) will halve its 29.23 per cent holding; and B2 Capital Partners will sell 20 per cent of its 9.95 per cent shares in the offer for sale. These shareholders collectively own 77.4 per cent in the firm.
According to merchant bankers, the OFS-only issue is likely to raise around Rs 500 crore at a valuation around Rs 2,000 crore.
Unicommerce had revenue Rs 60.16 crore in H1FY24 and restated profits of Rs 6.33 crore in H1FY24; and Rs 90.58 crore in FY23 and Rs 6.4 crore in FY23.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
