Snapdeal parent firm AceVector's IPO to open on September 25
AceVector plans to raise Rs 420 crore through the IPO and has priced its shares in the range of Rs 30-32.
AceVector, the parent company of ecommerce firm Snapdeal, will launch its initial public offering (IPO) on September 25. The IPO will be a combination of fresh issue of shares and offer for sale as the company looks to raise Rs 420 crore in total.
In its red herring prospectus (RHP), AceVector said it has set a price band of Rs 30-32 for the IPO and the valuation of the company will be about Rs 1,750 crore. It aims to raise Rs 287 crore through fresh issue of shares and Rs 133 crore in offer for sale by issuing 4.16 crore shares.
The IPO will open on September 25 and close on September 29 with a likely listing on October 5. The selling shareholders will include Softbank and Nexus Venture Partners.
AceVector's IPO is looking to raise a lower amount than its earlier target. Previously, it had targeted to raise Rs 300 crore from fresh issue of shares and the offer for sale of 6.38 crore shares.
According to the prospectus, AceVector will use the IPO proceeds for marketing and business promotion, technology infrastructure cost and inorganic growth opportunities.
AceVector reported a revenue of Rs 510.38 crore for FY26 as compared to Rs 395.02 crore in FY25 recording a growth of 29%. The company’s net loss for FY26 touched Rs 46 crore which was a 64% decline when compared to FY25.
Snapdeal operates in the value ecommerce segment with a larger focus on tier 2 and beyond locations. Besides Snapdeal, the other businesses of AceVector include SaaS company Unicommerce and consumer brands Stellaro Brands.
AceVector joins the list of Indian companies which are now tapping into the public markets. The IPO market saw a subdued period during the first half of this year but has picked pace in the second half. Numerous Indian startups have raised or in the process of tapping the public markets.