SoftBank-backed Unicommerce to float IPO on Aug 6

New Delhi: SoftBank-backed SaaS platform Unicommerce eSolutions Ltd will launch its Initial Public Offering (IPO) on August 6.

The initial share sale will conclude on August 8 and the bidding for anchor investors will open for a day on August 5, according to the Red Herring Prospectus (RHP). The issue is entirely an Offer For Sale (OFS) aggregating up to 2.56 crore equity shares by the selling shareholders. Since the IPO is completely an OFS, the entire proceeds will go to the selling shareholders. Under the OFS, SB Investment Holdings (UK) Ltd, an affiliate of Japan’s SoftBank, will offload 1.61 crore shares and promoter AceVector Limited (formerly known as Snapdeal Limited) will sell up to 94.38 lakh shares.