About 10I Commerce Services Private Limited
Data last updated:
10I Commerce Services Private Limited is a private limited company based in Bangalore, Karnataka, India. The company is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. Management control has been transferred to an insolvency professional. It operates in the general e-commerce platforms segment of the e-commerce sector. It was incorporated on 10 March 2015.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U72200KA2015PTC079186. Its GSTIN is 29AAACZ8225H1CB (Karnataka). The company holds 34 GST registrations, of which 14 are active.
The company has an authorised share capital of ₹5 Cr and a paid-up capital of ₹1.51 Cr. It is led by director Apoorva Baniga Venkatesh Jois.
Its last annual general meeting (AGM) was held on 22 February 2023, and its latest financial statements are for the year ended 31 March 2022. The registered office is at Wework 1st Floor Block L Embassy Tech Village Outer Ring Road Devarabisanahalli, Bangalore, Karnataka, India – 560103.
As per the financials filed for FY 2022, the company reported a revenue of ₹66.09 Cr, a decline of 90% compared to the previous year. For the same year it recorded a net loss of ₹123.77 Cr (net margin -187.3%) and EBITDA of -₹106.31 Cr (EBITDA margin -160.8%). Revenue has grown at a compounded annual rate (CAGR) of 56% over three years and 81% over five years.
The company has about 36 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: ShopX. As per MCA filings, the company has satisfied charges of ₹87.5 Cr on record. Court records list 2 cases involving the company, including 2 filed by the company. The company has 14 deals on record (11 funding rounds, 2 rights issues, 1 secondary share transfer), with disclosed funding of ₹400.05 Cr; the latest was in January 2021. Its 3 peer companies in the Ecommerce and Internet industry (Broad Based Ecommerce), with the same principal business activity (wholesale trading) are compared by revenue, 1 larger and 2 smaller; the largest is Import Express India Private Limited with revenue of ₹69.15 Cr. The company has 2 MSME Form 1 returns on record between 2019 and 2022, listing 10 overdue payments to 4 micro and small suppliers.
The last known website on record is shopx.in.
Company details
Contact details
10I Commerce Services Private Limited's registered office is in Bangalore, Karnataka. Its website is shopx.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressWework 1st Floor Block L Embassy Tech Village Outer Ring Road Devarabisanahalli, Bangalore, Karnataka, India – 560103
- IndustryE-Commerce, General E-Commerce Platforms
To see the full contact details of 10I Commerce Services Private Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Business activity
The main business activity of 10I Commerce Services is trade. In detail, this covers wholesale trading.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| G | Trade | G1 | Wholesale Trading |
To see the full business activity and turnover split of 10I Commerce Services Private Limited, buy the company report.
Financials of 10I Commerce Services Private Limited
FY 2022 filings available10I Commerce Services Private Limited reported revenue of ₹66.09 Cr (down 90% YoY) for FY 2022.
Compounded Annual Growth Rate (CAGR)
Revenue fell 90% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 81%. EBITDA rose 3% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | ₹66.09 Cr | ||||
| Other Income | |||||
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| EBITDA | -₹106.31 Cr | ||||
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| Tax Expense | |||||
| Net Profit (PAT) | -₹123.77 Cr | ||||
| Balance Sheet | |||||
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Financial Ratios
| Metrics | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -160.8% | ||||
| Net Profit Margin | -187.3% | ||||
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To see the full financial statements and ratios of 10I Commerce Services Private Limited, buy the company report.
Board of directors and KMP of 10I Commerce Services Private Limited
10I Commerce Services Private Limited currently reports 1 director and 1 key managerial person. 4 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Amit Sharma Also directs: Asdi Services LLP, Synthetic Intelligence Works Private Limited | Ceo | 26 Sep 2017 | 9 Years 0 Months | As last reported |
| Apoorva Baniga Venkatesh Jois | Director | 10 Mar 2015 | 11 Years 7 Months | As last reported |
Peer comparison
10I Commerce Services Private Limited is compared with the 3 companies closest to it by revenue in the Ecommerce and Internet industry (Broad Based Ecommerce), with the same principal business activity (wholesale trading), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Import Express India Private Limited | ₹69.15 Cr (FY 2019) | 29.0% | Kalyan East, Maharashtra, India | |||
| 10I Commerce Services Private Limitedthis company | ₹66.09 Cr (FY 2022) | -₹123.77 Cr | -187.3% | -90.0% | 36 | Bangalore, Karnataka, India |
| Electio Trading Private Limited | ₹64.65 Cr (FY 2024) | 33352.0% | Mumbai, Maharashtra, India | |||
| Dabster International Private Limited | ₹63.35 Cr (FY 2025) | 100.0% | Rajkot, Gujarat, India |
To see the full peer comparison of 10I Commerce Services Private Limited, buy the company report.
Auditor
10I Commerce Services Private Limited is audited by VARMA & VARMA for the financial year 2022.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| VARMA & VARMA | FY 2022 | 004532S |
Shareholding
The shareholding of 10I Commerce Services Private Limited is on record for 5 financial years, the latest being FY 2022, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of 10I Commerce Services Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 18 Dec 2019 | 100313056 | The Hongkong and Shanghai Banking Corporation Limited | ₹87.5 Cr | Satisfied |
To see the full charge records of 10I Commerce Services Private Limited, buy the company report.
Total charge records: 1 View all charges
Deals & funding
10I Commerce Services Private Limited has 14 deals on record (11 funding rounds, 2 rights issues, 1 secondary share transfer), with disclosed funding of ₹400.05 Cr; the latest was in January 2021.
Deals on record (5 of 14)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jan 2021 | Funding round · Series G | ₹29.28 Cr | Investors: NB Ventures |
| Feb 2020 | Rights issue | ₹10.68 Cr | Investors: 2 individuals |
| Jun 2019 | Funding round · Series F | ₹34.69 Cr | Investors: Fung Capital Asia |
| May 2019 | Funding round · Series E | ₹104.21 Cr | Investors: Fung Capital Asia |
| Aug 2018 | Funding round · Series D | ₹102.89 Cr | Investors: Fung Capital Asia |
To see the full deal history of 10I Commerce Services Private Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
10I Commerce Services Private Limited has 2 court cases on record: 2 filed by 10I Commerce Services. All cases are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 2 | 0 | 0 |
Cases on record (2 of 2)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, BENGALURU, Karnataka | Criminal complaint | Filed by the company against individuals | Disposed |
| District court, BENGALURU, Karnataka | Criminal complaint | Filed by the company against individuals | Disposed |
To see the full case history of 10I Commerce Services Private Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
10I Commerce Services Private Limited has 2 MSME Form 1 returns on record between 2019 and 2022, listing 10 overdue payments to 4 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (4 of 4)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Ip Express Cargo | |||
| Resilienceworks Consultation Services Private Limited | |||
| Digitrait Solutions Private Limited | |||
| Cartel Infosystems Private Limited |
To see the full MSME payment records of 10I Commerce Services Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
10I Commerce Services Private Limited has a workforce of 36 employees on its EPFO records as of Mar 21, 2024, across 1 active EPFO establishment.
GST
10I Commerce Services has 34 GST registrations: 14 active and 20 cancelled or inactive. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAACZ8225H1CB | Karnataka | Active | 04 Nov 2018 |
| 06AAACZ8225H1Z8 | Haryana | Active | 24 Aug 2018 |
| 23AAACZ8225H1CN | Madhya Pradesh | Active | 23 Nov 2018 |
| 24AAACZ8225H1CL | Gujarat | Active | 29 Nov 2018 |
To see the full GST registrations and return filing status of 10I Commerce Services Private Limited, buy the company report.
Recent activity
10I Commerce Services Private Limited has 6 board changes on record since 2015: 2 appointments and 4 cessations. The latest: Jagdish Kini Ganapathi ceased to be Director on 16 Feb 2022.
News
Frequently asked questions
10I Commerce Services is undergoing "Corporate Insolvency Resolution Process" (CIRP) under the Insolvency and Bankruptcy Code, 2016. Management control has been transferred to an insolvency resolution professional. The company may not be able to independently enter into new commitments during this period. This is a high-risk status - verify the resolution status before any engagement.
10I Commerce Services is a company under insolvency, formerly operating as a private limited company based in Bangalore, Karnataka, India. The company works in general e-commerce platforms, within the e-commerce industry. It was incorporated on 10 March 2015 and is registered under CIN U72200KA2015PTC079186. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
10I Commerce Services has 2 current directors and KMP:
- Apoorva Baniga Venkatesh Jois - Director
- Amit Sharma - Ceo
The latest financial statements of 10I Commerce Services on record with the MCA are for the year ended 31 March 2022. Its last annual general meeting was held on 22 February 2023. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of 10I Commerce Services is U72200KA2015PTC079186. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
10I Commerce Services has no open charges and satisfied charges of ₹87.5 Cr as per latest MCA filings.
10I Commerce Services has 2 court cases on record: 2 filed by the company.
10I Commerce Services was incorporated on 10 March 2015. It is registered with the Registrar of Companies, Bangalore.
10I Commerce Services has 14 deals on record (11 funding rounds, 2 rights issues, 1 secondary share transfer), with disclosed funding of ₹400.05 Cr; the latest was in January 2021.
The peers of 10I Commerce Services by revenue are Import Express India Private Limited, Electio Trading Private Limited, Dabster International Private Limited, all in the Ecommerce and Internet industry (Broad Based Ecommerce), with the same principal business activity (wholesale trading).
Jagdish Kini Ganapathi ceased to be Director on 16 Feb 2022. Charu Nirmal ceased to be Director on 30 Nov 2021. Rajesh Vardichand Ranavat ceased to be Director on 13 Nov 2019. 10I Commerce Services has 6 board changes on record in total.
10I Commerce Services has 2 MSME Form 1 returns on record between 2019 and 2022, listing 10 overdue payments to 4 micro and small suppliers. The latest return was filed on 01 Feb 2023.