Unicommerce Eyes Public Listing In 2024, Ropes In CLSA To Lead Process

Unicommerce eSolutions Pvt Ltd, which offers a software-as-a-service (SaaS)-based order management and fulfilment platform to ecommerce and retail businesses, is expected to make public listing late next year.

Unicommerce’s parent entity AceVector Limited, which also owns Snapdeal has tapped investment firm CLSA to manage its book-building process, as per a report by ET.

Snapdeal co-founder Kunal Bahl first mentioned about Unicommerce initial public offering (IPO) in an X post on November 7.

Unicommerce powers post-purchase experience for brands, marketplaces and fulfillment providers. The platform has been deployed by ecommerce retail companies, traditionally offline brands, direct-to-consumer (D2C) brands, brand aggregator firms, fulfillment service providers, 3PLs, and marketplaces. It also counts recently listed D2C unicorn Mamaearth as one of its clients.

The company has built a strong presence in India and has also expanded to international geographies and is serving clients in the Middle East (UAE and Kingdom of Saudi Arabia) and Southeast Asia (Singapore, Malaysia, Indonesia, and the Philippines).

Recently, it announced its collaboration with Tasva, the men’s ethnic wear brand from Aditya Birla Fashion and Retail Ltd. (ABFRL) and India’s ace designer Tarun Tahiliani. It also launched “Pack-Fast” solution to help ecommerce platforms and retail brands power faster warehouse operations.

Unicommerce recorded a revenue increase of around 50% in FY 2023. The company is currently testing its Unireco platform, which aims to streamline payment reconciliations for brands that deal with multiple marketplaces.

Snapdeal acquired Unicommerce in 2015. It was launched in 2012 by three classmates at IIT Delhi, Ankit Pruthi, Karun Singla and Vibhu Garg, who exited the company within two years.

In 2021, Snapdeal also announced for its $152 Mn IPO, however, it got shelved in 2022 amid global economic downturn.