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Shares of ecommerce SaaS company Unicommerce slumped nearly 5% in early trade today (January 27) to hit their all-time low at INR 134.80 apiece on the BSE, extending their losses for the fourth straight day.
However, the stock pared some of its losses during the intraday trading and was quoting INR 137.35 at 11:39 AM, 3% lower than its previous close.
The company made a stellar market debut in August 2024, with its shares listing at INR 230 on the BSE, a 113% premium over the IPO issue price.
However, the stock has been under selling pressure lately. Unicommerce shares have ended in red in 8 out of the last 14 trading sessions. Moreover, the stock is down 38% from its listing price.
At the time of writing, the market capitalisation of Unicommerce stood at INR 1,406.93 Cr (around $162.8 Mn).
Founded in 2012 by Karun Singla, Ankit Pruthi and Vibhu Garg, and later joined by Manish Gupta, Unicommerce is an ecommerce SaaS company that helps sellers manage their inventory across all online marketplaces. It offers integrations with all major Indian ecommerce platforms.
The company was acquired by Snapdeal in 2015 for an undisclosed amount.
Unicommerce shares turned topsy-turvy when the company announced its plans to acquire a 42.7% stake in commerce shipping solutions provider Shipway for INR 68.4 Cr in November 2024.
During the company’s earnings call for the September quarter of the financial year 2024-25 (Q2 FY25), investors expressed their worry on the integration challenges that are plaguing mergers and acquisitions in the software industry.
Unicommerce’s net profit rose 21% to INR 4.47 Cr in Q2 FY25 from INR 3.69 Cr in the same quarter last year. Operating revenue jumped 13% to INR 29.30 Cr during the quarter under review from INR 25.93 Cr in Q2 FY24.
The post Unicommerce Shares Extend Losses For Fourth Day, Hit All-Time Low At INR 134.80 appeared first on Inc42 Media.
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