It filed the draft red herring prospectus (DRHP) under the Securities and Exchange Board of India’s confidential filing facility, which allows companies to delay public disclosure of the details.
AceVector, founded by Kunal Bahl and Rohit Bansal, also operates consumer brand building company Stellaro Brands. It is listed as a promoter of Unicommerce and owns more than 28% of the ecommerce software company.
Unicommerce got listed on the exchanges in August last year at Rs 235 per share, more than double its issue price of Rs 108. The shares have since come down from the highs and closed Friday at Rs 128.80 on the BSE.
Unicommerce’s revenue for fiscal 2025 ended March 31 grew 30% to Rs 135 crore. Net profit rose 34% to Rs 18 crore.
Ecommerce firm Snapdeal’s revenue from operations increased 2% to Rs 380 crore in FY24, while its loss reduced 43% to Rs 160 crore.
The confidential route gives companies flexibility in determining the issue size in the initial stages, allowing them to revise the number of fresh shares to be issued by up to 50% until an updated DRHP is filed.
Also Read: ETtech Explainer: What is confidential IPO filing, and why do startups choose it?
With this, the company has joined a long list of new-age companies that have filed to go public including Curefoods, Groww, Pine Labs, PhysicsWallah, Shiprocket, Urban Company, and Boat, Capillary Technologies and Wakefit.
On July 3, ET reported that a dozen of these new age companies that have filed their draft IPO papers this year collectively look to raise over Rs 18,000 crore (more than $2 billion) through fresh issuances of shares.
Also Read: IPOs lead India’s 2024 startup exit wave, but M&As likely to catch up
