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 E-commerce enablement SaaS platform Unicommerce has filed its draft red herring prospectus (DRHP) with the Security Exchange Board of India (SEBI) for an initial public offering (IPO).

The SoftBank-backed company, which is under AceVector Group which also has Snapdeal and Stellaro Brands, has filed DRHP for a secondary sale of 29.8 million shares and does not include fresh issues.

AceVector Limited is selling up to 1,14,59,840 equity shares while B2 Capital Partners and SB Investment Holdings (SoftBank) are offloading up to 2,210,406 and 16,170,240 equity shares.

AceVector Limited holds a 38.18 per cent stake in Unicommerce, followed by SoftBank and B2 Capital Partners with 29.23 per cent and 9.95 per cent shares, respectively.

As per the DRHP, some veteran investors have also invested in the company ahead of its IPO.

Unicommerce offers integrated e-commerce enablement SaaS solutions covering order and inventory, return, and omnichannel management.

Unicommerce's revenue from operations grew 52.5 per cent to Rs 90.06 crore in FY23 compared to Rs 59.03 crore in FY22.

As per its financial statement with the Registrar of Companies (RoC), the company's net profit before tax (PAT) also increased from Rs 6.9 crore in FY22 to Rs 8.9 crore in FY23.

The company continues to be PAT positive three years in a row, reporting Rs 6.45 crore in FY23.

Apart from India, Unicommerce also has operations in six other countries, including Indonesia, Philippines, Singapore, Malaysia, the UAE and Saudi Arabia, with clients like Edamama, RedTag, RSA Global, Airspeed etc.

This is the third SoftBank-funded company that has filed DRHP in a fortnight, besides Ola Electric and FirstCry.

Fintech unicorn MobiKwik and flexible workspace provider Awfis have also filed for their IPOs in the last two weeks.