Unicommerce eSolutions Ltd IPO: Review, Valuation, Date & GMP

Unicommerce eSolutions IPO - Complete Overview

Unicommerce eSolutions IPO a Mainboard IPO is a book-built issue of Rs.276.57 crores by Unicommerce eSolutions a SaaS platform that was founded in 2012 to handle e-commerce operations for sellers, brands, and logistics companies.

The company provides a variety of software solutions to assist companies in effectively managing their online storefronts once they are purchased. Some goods include a seller management panel for marketplaces, a multi-channel order management system, an omnichannel retail management system, a warehouse and inventory management system, post-order services for logistics tracking and courier allocation, and a payment reconciliation system.

Partnership and Integration- 

• 11 connections with ERPs, POS systems, and other systems.

• 101 logistics partners integrations as of March 31, 2024.

• OMS handled 791.63 million order items as of March 31, 2024.

• 131 marketplaces and web store interfaces.

Sector Served -

Style, appliances, home and kitchen, FMCG, cosmetics, sports, fitness, nutrition, health, pharmaceutical, and third-party logistics. 

Prestigious Clients -

Shiprocket, Mamaearth, Sugar Cosmetics, Cello, Paragon, Lenskart, SupperBottoms, Chumbak, PharmEasy, and so on.

Worldwide Reach -

43 enterprise clients in 7 countries, mostly in Southeast Asia and the Middle East, since fiscal year 2023.

The company plans to launch its IPO on 6 August 2024.

Unicommerce eSolutions IPO Overview

The Unicommerce eSolutions IPO of Rs.276.57 crore comprises wholly an offer for sale (OFS) of 2.56 crore Shares amounting to Rs.276.57 crore out of which 10% is allocated to retail investors, 75% to institutional investors and 15% to non-institutional investors. The IPO will be available to investors on August 6, and conclude on August 8. The anticipated listing date for the IPO is Tuesday, August 13, and it will be held on the BSE and NSE. The price band of the Share is Rs.102 to Rs.108.

If You want to apply for the IPO, Click Here to Open a Demat Account.

 

 

Company Financial

Unicommerce eSolutions Limited's revenue rose by 17.71%, while profit after tax (PAT) increased by 101.95% during the fiscal years ending March 31, 2024, and March 31, 2023. 

Below is the synopsis of the company's financial data for the financial year that concluded on 31 March 2024.

• The company’s total revenue is over Rs.109.43 crore.

• The net worth of the company is Rs.68.91 crore.

• The company's EBITDA is Rs.14.41 crore.

• The total assets of the company are Rs.109.11 crore.
  
  

(Amount in crore)

Period	31 Mar 2024	31 Mar 2023	31 Mar 2022
Total Assets	109.11	81.74	59.03
Total Revenue	109.43	92.97	61.36
PAT	13.08	6.48	6.01
Net worth	68.91	51.89	41.37
Total Reserves & Surplus	45.87	37.70	31.47

 

Revenue Bifurcation

Below is the revenue breakdown for various activities.

(Amount in crore)

Net Cash flow in various Activities	31 Mar 2024	31 Mar 2023	31 Mar 2022
Net Cash Flow Operating Activities	6.00	14.57	7.82
Net Cash Flow Investing Activities	-29.52	10.34	-13.78
Net Cash Flow Financing Activities	-1.96	-	-

 

Geography-wise Revenue Bifurcation For The Last Three Fiscals.

(Amount in million)

Segment	FY 2024	FY 2023	FY 2022
Outside India	38.04	24.64	7.45
Within India	1,035.81	900.58	590.32

 

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

The Selling Shareholders will receive all Offer Proceeds in proportion to the Offered Shares sold by their respective Selling Shareholders as part of the Offer; the company will not receive any share of the Offer Proceeds.

Peers of Unicommerce eSolutions

There are no listed companies involved in the same category of the comparable size as mentioned in the RHP.

 

Evaluation

The price of this Unicommerce eSolutions IPO is Rs.102 to Rs.108 for each Share.

Evaluation of P/E Ratio

Considering the FY ended 31 March 2024, with EPS of Rs.1.30 from the last year, the resulting P/E ratio is 83.07x.

Considering the weighted EPS of Rs.0.96 for the last three years, the P/E ratio is 112.5x.

Comparative Analysis with Listed Peers

The average P/E Ratio of the industry is NA.

In simple words, the P/E ratio of Unicommerce eSolutions-IPO can not be compared with its peers as there are no listed peers. 

 

Detailed Video:

 

IPO's Strengths

• The largest platform for SaaS applications that enable e-commerce and serve as the hub for its clients' business operations.

• With a broad range of plug-and-play integrations and a comprehensive and flexible product portfolio, it is an essential component of its client's technology stack.

• Large, growing, and diversified base of marquee Indian and global clients with long-term relationships and the capability to upsell or cross-sell new and additional products.

• Robust cash flows and a history of rapid, profitable expansion during the last three fiscal years.

 

IPO’s Weaknesses

• The company's expansion and growth are linked to India's e-commerce sector's growth. Any modifications to the Indian e-commerce landscape will have a negative impact on the company's expansion and operations.

• It may lose market share to rivals and suffer competition, which could have a negative impact on its operations, financial health, and cash flows.

• Due to the lack of listed industry peers in India or elsewhere, it may be challenging to benchmark and compare its financial performance to that of other businesses in the same sector.

• It may see similar negative cash flows in the future from our operating, financing, and investment operations as it had in the past.

• The seasons affect its business. Any modification to its forecast for the seasonal fluctuations might have a negative impact on the company's operations.

 

IPO GMP Today

The most recent GMP for Unicommerce eSolutions's IPO is Rs.69.

Unicommerce eSolutions IPO timetable (Tentative)

The IPO is scheduled from August 6 to August 8, 2024, with allotment on August 9, 2024,  refund initiation on August 12, 2024, and listing on August 13, 2024.

Events	Date
IPO Opening Date	August 6, 2024
IPO Closing Date	August 8, 2024
IPO Allotment Date	August 9, 2024
Refund Initiation	August 12, 2024
IPO Listing Date	August 13, 2024

 

Unicommerce eSolutions IPO Details 

The IPO with a face value of Rs.1 per Share is set to start on August 6, 2024, close on August 8, 2024, and offers a total issue size of 25,608,512 Shares at Rs.102 to Rs.108 per Share with a Lot size of 138 Shares and will be listed at BSE and NSE.

IPO Opening & Closing Date	August 6, 2024 to August 8, 2024
Face Value	Rs.1 per Share
Issue Price	Rs.102 to Rs.108
Lot Size	138 Shares
Issue Size	25,608,512 Shares (aggregating up to Rs.276.57 crores).
Offer for Sale	25,608,512 Shares (aggregating up to Rs.276.57 crores).
Fresh Issue	-
Listing at	BSE, NSE
Issue Type	Book Built Issue IPO
Registrar	Link Intime India Private Ltd

 

 

Unicommerce eSolutions IPO Lot Details 

The IPO allows retail investors to invest in a minimum and maximum of 1 Lot (138 Shares) amounting to Rs.14904, and 13 Lots (1794 Shares) amounting to Rs.193,752 respectively, while for HNI investors, the minimum Lot is 14 (1932 Shares) amounting to Rs.208,656.

Minimum Lot Investment (Retail)	1 Lot
Maximum Lot Investment (Retail)	13 Lots
S-HNI (Min)	14 Lots
S-HNI (Max)	67 Lots
B-HNI (Min)	68 Lots

 

Unicommerce eSolutions IPO Reservation

QIB Share Portion	75%
Retail Investors Share Portion	10%
NII Shares Portion	15%

 

 

Promoters and Management of Unicommerce eSolutions IPO

• AceVector Limited (formerly known as Snapdeal Limited)

• Starfish I Pte. Ltd

• Kunal Bahl 

• Rohit Kumar Bansal.
  
  

Unicommerce eSolutions IPO Lead Managers

• Iifl Securities Ltd 

• Clsa India Private Limited
  
  

Dividend Policy

The company has not paid any dividend in the last 3 Fiscals.

 

Conclusion

The company has experienced negative cash flow in investing activities and financing activities, in the last few fiscal years. To fulfill its objectives, the company is currently conducting an IPO for the public.

We believe the information offered in this blog helps you learn about the company's financial performance. So this blog will be very useful to you if you are looking for information about the approaching IPO since it will give you reliable information about the company's, insights, financials, and past performance. If this informative blog piques your interest, you may be interested in reading our other related and useful posts on our website.

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

Disclaimer: This IPO analysis is only for informational purposes and should not be considered as investment advice. Always do your research and consult with a financial advisor.

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