Unicommerce is an average business that needs investors but not their money

It should surprise no one that the story of this SaaS company, which recently filed draft papers for an IPO, continues to show signs of opportunism.

Unicommerce eSolutions has filed draft papers for an initial public offering. The company is owned by AceVector, which used to be Snapdeal, the also-ran e-commerce player in India. 

The first distinctive part of its filing is that it is a complete offer for sale. Snapdeal and a few other investors, including SoftBank—the second largest shareholder in the company—are selling their shares. Unicommerce will not see a single penny from the public listing. The second distinctive bit is that Unicommerce is a tiny cog in the large machinery of online commerce, and has chugged along for more than a decade without …

Author

Ashish K. Mishra

Ashish is the editor-in-chief of The Morning Context. One of the best-known business feature writers in India, he was selected for Germany’s Robert Bosch Stiftung Fellowship in 2012 and received the Mumbai Press Club RedInk certificate of recognition in 2015 for his story “Inside the Network 18 takeover”. Before joining The Morning Context, Ashish co-founded The Ken, where he was managing editor. His previous writing stints include Mint, Forbes India and The Economic Times.

Editor-in-chief

ashish@mailtmc.com

London