About the Company:
Salebhai.com (Salebhai Internet Ltd) is an Indian e-commerce portal that enables people living away from home order a range of specialties directly from their hometowns.
It is also a one-stop solution for those who want to discover regional products from across India. People can pick from a wide variety of delicious consumable items like sweets, namkeen, chocolates, bakery, spices, dry fruits, beverages, and pickles.
Salebhai also offers other products such as handicrafts, paintings, puja items, handloom goods, and herbal & wellness items.
The unique enterprise was launched on 15th September, 2015 by Mr. Vishwavijay Singh, Mrs. Purba Kalita, and Mr. Anand Varani, after they identified a market gap, led by people migrating within Indian and abroad and goods representing their culture were mostly in short supply.
Company focuses on requirements of over 17 Diaspora communities living in big Indian cities as well as those who live abroad.
With 8500 products sourced from over 100 cities and 300 select vendors, the company provides people with an opportunity to buy products in various categories from sellers across India as well as discover new items from different communities and cultures.
Salebhai.com plans to further deepen its offerings to customers by penetrating into smaller towns for sourcing, and also widen their offering by adding new categories which are missed by people.
Company’s Business Model:
Company’s Business Concept:
Company sells consumable items such as sweets, namkeen, chocolates, bakery, spices, dry fruits, beverages, and pickles, to handicrafts, paintings, puja items, handloom goods, and herbal & wellness items.
Customers can not only order authentic regional delicacies such as petha from Agra, chikki from Lonavala, or khakhra from Gujarat, but also seasonal goods such as Alphonso, Dasheri, Kesar and Baganapalli mangoes and festive specials such as modak, fafda-jalebi, Mahashivratri prasad from Kashi Vishwanath and Janmashtami prasad from ISKCON.
International Delivery:
In the past two years, salebhai.com has become the perfect site for Diaspora communities across India to order authentic items from their hometowns as well as a portal for discovery of unique products from different regions of the country.
Apart from catering to homesick Indians, SaleBhai‘s international delivery now makes it possible for people from other countries to discover the vibrant flavors and colors of India.
Company also sells Intricate handicrafts from Jaipur, Odisha, Kannur, Kondapalli, Moradabad, famous freshwater pearl jewelry from Hyderabad, black pottery from Manipur, and 100% organic body care items with the essence of Ayurveda are just a few of the growing list of products curated for international delivery.
And when queries about international delivery started pouring in from Indians across the world, Company decided to launch international delivery for overseas customers. Company first tested it during Raksha Bandhan focusing only on countries like US and UK.
When it was found to be successful, Company launched international shipping to 195 countries, with special focus on the US, West & South Africa, Middle East, Australia and the UK. Company has tied up with leading international logistics providers to ensure timely delivery, especially of food items with short shelf lives.
Speciality Products from Across India & Sold on Salebhai.com
Management Team:
- MR. VISHWAVIJAY SINGH (Designation: Managing Director & CEO)
- MR. ANANDPRAKASH VARANI (Designation: Executive Director & CFO)
- MRS. PURBA KALITA (Designation: Executive Director)
Promoters Average Acquisition Cost:
| Name of the Promoter | No. of Shares held | Average Acquisition Cost (in Rs.) |
|---|---|---|
| Mr. Vishwavijay M. Singh | 24,92,220 | Rs. 4.48 |
| Mr. Anandprakash Varani | 6,47,930 | Rs. 3.62 |
| Ms. Purba Kalita | 2,00,000 | Rs. 1.00 |
Promoters with a difference. (Unsalaried Promoters)
The faith of the promoters in the company‘s potential and scalability is such that they have not drawn salary from the company since the very beginning. Instead of burdening the company by being high-cost resources, CEO Singh, CFO Varani, and the others channeled the funds to instead utilise it efficiently in expanding SaleBhai‘s footprint.
Objectives of the Issue:
- Operating Expenditure
- Customer Acquisition
- IT Development
- General Corporate Purpose
- Brand Building & Promotion
- Issue Expense
Fund Utilization:
| Particulars | Amount (Rs. in Crores) |
|---|---|
| Operating Expenditure | 5.42 |
| Customer Acquisition | 7.5 |
| IT Development | 5.0 |
| General Corporate Purpose | 5.09 |
| Brand Building & Promotion | 0.20 |
| Issue Expense | 0.50 |
| Net Proceeds | 23.72 cr |
Financials of the Company:
| (in Crores) | FY 16 | FY 17 | 31st Jan 18 |
|---|---|---|---|
| Revenue | 0.037 | 0.46 | 1.13 |
| Net Profit | (-1.1) | (-2.88) | (-1.59) |
Peer Group Comparison:
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 27th July 2018 |
| Issue Closes on:. | 2nd August 2018 |
| Issue Price | Rs.105 |
| Face Value | Rs.10 |
| Minimum Lot | 1200 |
| Minimum Investment | Rs.1,26,000 |
| Issue Constitutes | 26.59% |
| Issue Size | Rs.23.72 cr |
| Market Cap | Rs.89.26 cr |
| Listing at | BSE SME |
| Equity Shares Offered (Fresh) | 22,59,600 |
| Equity Shares Prior to the Issue | 62,41,510 |
| Equity Shares after the Issue | 85,01,110 |
| Company Contact Info: |
|---|
| Salebhai Internet Ltd 307-A,C/o SafalPegashis, Opp. Kiran Motors,100ft Road, Opp; Rivera Bunglows, Prahalad Nagar, Vejalpur Ahmedabad Gujarat – 380015. Email Id : compliance@salebhai.com Website: www.salebhai.com |
| IPO Registrar Info: |
|---|
| SKYLINE FINANCIAL SERVICES PRIVATE LIMITED Address 4A9, Gundecha Onclave, Kherani Road, Sakinaka, Mumbai – 400072 Tel. No. +91-22-28511022 / 62215779 Investor Grievance Email: grievances@skylinerta.com Website: www.skylinerta.com |
| Lead Manager to the Issue: |
|---|
| MONARCH NETWORTH CAPITAL LIMITED Monarch House, Opp., Ishwar Bhuvan, Commerce Six Road, Navrangpura, Ahmedabad – 380014. Tel. No. – 079 – 6600 0500/ 700 Email: shivam.patel@mnclgroup.com Website: https://www.mnclgroup.com |
