AceVector IPO Day One
Snapdeal Parent AceVector Launches ₹420 Crore IPO With Subdued Day One Response
Anonymous
AceVector, the parent of Snapdeal, launched a ₹420 crore IPO on September 25, comprising a ₹287 crore fresh issue and a ₹133 crore offer for sale, priced at ₹30–₹32 per share, with a minimum application of 468 shares. On day one, the IPO was subscribed 0.23 times overall, with retail investors subscribing 62% of their quota and non-institutional investors 42%; bidding closes September 29, and listing is expected on the BSE and NSE on October 5. SoftBank, Nexus Venture Partners and other existing investors are selling shares, while co-founders Kunal Bahl and Rohit Bansal are not participating in the sale. The company plans to use ₹132 crore of fresh proceeds for marketplace marketing and promotion and ₹50 crore for technology infrastructure, with the balance for acquisitions and general corporate purposes. AceVector’s businesses include the Snapdeal marketplace, Unicommerce’s e-commerce software services and consumer brand business Stellaro Brands.
Key Points
1
AceVector raised ₹189 crore from anchor investors on the eve of the IPO.
2
The IPO was smaller than the company’s earlier plan: AceVector cut the proposed fresh issue from ₹300 crore and the offer-for-sale from 6.38 crore shares.
3
The offer-for-sale proceeds will go to the selling shareholders, not AceVector; the company says they will not form part of the IPO’s net proceeds.
4
In FY2026, Snapdeal generated 57.5% of AceVector’s revenue and Unicommerce 40%. Snapdeal served customers across 18,972 Indian pin codes, while Unicommerce served 8,261 clients; Stellaro’s Rangita brand also operated 19 single-brand stores.
5
Before the IPO opened, its grey-market premium was reported at ₹2 per share, or about 6% above the upper issue price; the report cautioned that this unofficial indicator does not guarantee the listing price or returns.
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