Kunal Bahl and Rohit Bansal, founders of Snapdeal and early-stage venture capital firm Titan Capital, have increased their shareholding in ecommerce software company Unicommerce Esolutions by acquiring additional shares from the market.
According to disclosures filed with the BSE, the Unicommerce promoters have collectively purchased 93,500 shares of the software firm for about Rs 99 lakh.
With this purchase, Bahl and Bansal now hold a 10.85% stake in the company, both directly and through their controlled entities, the company said. They have never sold any shares in the company, including during its initial public offering (IPO).
Before this, they held 10.75% in Unicommerce through B2 Capital Partners, the promoter entity through which Bahl and Bansal jointly hold a stake in the company. Both are holding 50% each in B2 Capital Partners.
B2 Capital Partners had earlier opted out of the offer for sale (OFS) component of the IPO. Previously, B2 Capital had planned to sell up to 2.2 million shares in the IPO.
Unicommerce listed on August 13 at Rs 235 per share, more than double its issue price of Rs 108.
Founded in 2012, the Gurugram-based company offers technology solutions to manage various operations, including warehouse and inventory management, order management, omnichannel retail management, and seller management for ecommerce platforms.
Unicommerce’s clients include new-age consumer brands such as omnichannel eyewear retailer Lenskart, homegrown wearable and audio product brand Boat, skincare brand Mamaearth, and online fashion retailer Myntra.
The company reported a 27% year-on-year (YoY) increase in its October-December operating revenue at Rs 33 crore. Net profit for the quarter rose 62% on-year to Rs 6.3 crore.
Source: Economic Times