Snapdeal subsidiary Unicommerce to come up with IPO

14 Dec 2022 , 03:38 PM

Unicommerce eSolutions is planning its IPO. IIFL Capital Services and CLSA have been hired as merchant bankers for the IPO. Unicommerce provides cloud-based solutions to e-commerce companies. 

Unicommerce’s plan for initial public offering (IPO) comes shortly after parent company Snapdeal withdrew the drafting red herring prospectus for its own IPO.

Snapdeal has complete control over Unicommerce, with Japan’s Softbank holding a tiny stake in the business. Snapdeal has scrapped its plans for an equity offering. However, it did say that the business might later reconsider the IPO plan, depending on its funding needs and market conditions.

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