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AceVector, the parent company of Snapdeal, Unicommerce and Stellaro Brands, saw decent demand for its IPO, with the issue subscribed 5.07 times as investors bid for 36.61 crore shares against 7.22 crore shares on offer. AceVector’s initial public offering (IPO) was open for subscription from September 25-September 29, with a price band of Rs 30-32 and a minimum investment of Rs 14,040 for a lot size of 468 shares. According to exchange data, the non-institutional investors (NIIs) portion saw the highest demand with 8.53X subscription, followed by the retail quota at 4.83X, while the Qualified institutional buyers (QIBs) portion was subscribed 3.42X. The IPO comprises a fresh issue of Rs 287 crore and an offer for sale (OFS) of 4.16 crore shares worth around Rs 133 crore at the upper price band. SoftBank, Nexus Venture Partners and other existing investors will partially offload their stakes through the OFS, while co-founders Kunal Bahl and Rohit Bansal will not sell any shares in the IPO. The fresh proceeds from the IPO will primarily be used for Snapdeal’s marketing and business promotion, technology infrastructure, acquisitions and general corporate purposes. Ahead of the IPO opening, AceVector raised Rs 189 crore from 14 anchor investors by allotting 5.91 crore shares at Rs 32 per share. The anchor book saw participation from Negen Undiscovered Value Fund, Singularity Growth Opportunities Fund, Turnaround Opportunities Fund, and mutual funds including Helios and Taurus. AceVector’s operating revenue grew 29% to Rs 510.38 crore in FY26 from Rs 395.02 crore in FY25, while its adjusted EBITDA loss narrowed to Rs 15.94 crore from Rs 39.16 crore.
document fetched 2026-09-30 03:02