Unicommerce Achieves Remarkable H1 FY24 Profits, Sets the Stage for IPO

Unicommerce’s IPO Filing: A Strategic Shift Toward Market Expansion and Financial Milestones


In a groundbreaking development, Unicommerce, the SaaS startup backed by SoftBank and owned by Snapdeal, recently filed its draft red herring prospectus (DRHP) on Saturday. The filing has unveiled an impressive financial performance, as the company reported a net profit of INR 6.3 Crores in the first half of the fiscal year 2024 (H1 FY24), nearly matching its entire profit for the preceding fiscal year FY23.

Key Financial Highlights:

  1. FY23 Profit Growth: Unicommerce demonstrated robust growth in its net profit, witnessing an 8% surge from INR 6 Crores in FY22 to INR 6.4 Crores in FY23. This upward trajectory in profitability showcases the startup’s resilience and strategic financial management.
  2. H1 FY24 Performance: The first half of FY24 proved to be exceptionally fruitful for Unicommerce, as it not only sustained its financial momentum but also recorded a net profit of INR 6.3 Crores. This notable achievement in just six months speaks volumes about the company’s operational efficiency and market positioning.
  3. Revenue and Expenses: Unicommerce’s operating revenue for H1 FY24 stood at a commendable INR 51 Crores, while its expenses were reported at INR 45.5 Crores. This healthy financial balance further underscores the company’s prudent fiscal management.

IPO Details:

According to the details outlined in the DRHP, Unicommerce’s upcoming Initial Public Offering (IPO) is set to be an offer for sale (OFS) of shares, with no plans for fresh issuances. This strategic move aligns with the current market trends and signifies the company’s focus on leveraging its existing strengths for growth in the public domain.


Unicommerce’s stellar financial performance in H1 FY24 not only positions the company as a formidable player in the SaaS landscape but also generates considerable anticipation for its upcoming IPO. With a proven track record of profit growth and a robust financial foundation, Unicommerce seems poised for success as it enters the public markets. Investors and industry enthusiasts will undoubtedly keep a close eye on the unfolding story of Unicommerce’s journey from a SoftBank-backed startup to a potential market leader.

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