AceVector files updated DRHP with SEBI, moves closer to IPO
Under the proposed offering, the company plans to raise Rs 300 crore through a fresh issue of shares, alongside an offer for sale of up to 6.38 crore shares by existing investors.
Gurugram-based digital commerce company AceVector Limited—the parent of Snapdeal, Unicommerce, and Stellaro Brands—has filed its updated draft red herring prospectus (UDRHP-I) with the Securities and Exchange Board of India (SEBI), taking a significant step toward its public market debut.
Under the proposed offering, the company plans to raise Rs 300 crore through a fresh issue of shares, alongside an offer for sale (OFS) of up to 6.38 crore shares by existing investors.
Notably, co-founders Kunal Bahl and Rohit Bansal, who together hold 34.63% in AceVector, will not be selling any shares in the IPO. Investors SoftBank, Nexus Venture Partners, and Foxconn will participate in the OFS, along with certain individual shareholders. Other major shareholders include Temasek, eBay, and Premji Invest.
AceVector's three core businesses are Snapdeal, a value-focused ecommerce marketplace; Unicommerce, an ecommerce enablement SaaS platform; and Stellaro Brands, an omnichannel consumer brands business that includes labels like Rangita
While the three businesses function independently, the filing notes that they benefit from shared infrastructure, strategic oversight, and complementary capabilities.
Proceeds from the fresh issue will be used to strengthen AceVector’s technology infrastructure, support marketing and business promotion for Snapdeal, pursue inorganic growth, and meet general corporate purposes.
AceVector had earlier taken its SaaS arm Unicommerce public in 2024, with the IPO subscribed nearly 168 times.
For FY25, the company reported operating revenue of ₹395 crore and an adjusted EBITDA loss of ₹39 crore. In H1 FY26, operating revenue rose 34% year-on-year to ₹244 crore, while adjusted EBITDA loss narrowed to ₹9.2 crore, compared to ₹28 crore in the same period last year. The company also posted positive net operating cash flow of ₹5.07 crore in H1 FY26.
IIFL Capital Services and CLSA India are the book-running lead managers for the IPO.