loading
loading
AceVector, the parent company of e-commerce platform Snapdeal, made a weak debut on the stock exchanges on Monday, October 5, with its shares listing at a discount of around 12% to the IPO price. The company’s shares opened at Rs 28.32 on the NSE, compared with the issue price of Rs 32, an 11.5% discount. On the BSE, the stock opened at Rs 28.30, down 11.56% from the IPO price. The weak debut came despite AceVector’s Rs 420 crore IPO receiving strong investor interest. The issue was subscribed around 5 times during its three-day bidding period, with the retail portion subscribed 4.83 times and the non-institutional investor category receiving 8.53 times subscription. The IPO comprised a fresh issue of Rs 287 crore and an offer-for-sale (OFS) of Rs 133 crore. The company had fixed the price band at Rs 30-32 per share. SoftBank, Nexus Venture Partners and other existing investors partially offloaded their stakes through the OFS, while co-founders Kunal Bahl and Rohit Bansal did not sell any shares in the IPO. AceVector plans to use a portion of the IPO proceeds to fund marketing and promotional expenses for its marketplace business. Around Rs 132 crore has been earmarked for this purpose, while another Rs 50 crore will go towards technology infrastructure. The remaining funds will be used for acquisitions and general corporate purposes. AceVector operates Snapdeal along with e-commerce enablement platforms such as Uniware, Shipway and Convertway. It also owns consumer brands under Stellaro Brands. The company’s financial performance improved in FY26. Its total income rose 32% year-on-year to Rs 538 crore from Rs 407 crore in FY25. At the same time, its net loss narrowed sharply to Rs 45 crore from Rs 126 crore a year earlier.
document fetched 2026-10-06 02:57