AceVector Sets IPO Price Band at ₹30-₹32 per Share, Targeting ₹1,741 Crore Valuation

AceVector Limited, the parent entity behind value-commerce marketplace Snapdeal, has launched its initial public offering (IPO) with a price band fixed between ₹30 and ₹32 per equity share of face value ₹1 each. The issue is scheduled to open for public subscription on September 25 and will close on September 29. Bidding for anchor investors will take place on September 24, with shares tentatively slated to list on the BSE and the National Stock Exchange (NSE) on October 5.

At the upper boundary of the price band, the IPO is poised to raise ₹420 crore, valuing the Gurugram-based digital commerce player at approximately ₹1,741.4 crore.

Issue Structure and Shareholding

The ₹420-crore public offering comprises a fresh issue of equity shares worth up to ₹287 crore and an offer-for-sale (OFS) of up to 4.16 crore shares aggregating to ₹133 crore by existing investors. The company had previously raised ₹13 crore in a pre-IPO placement, which has been adjusted against the originally proposed ₹300-crore fresh issue.

Key Details of the Issue:

• Price Band: ₹30 to ₹32 per equity share
• Total Issue Size: ₹420 crore (Fresh issue of ₹287 crore, OFS of ₹133 crore)
• Lot Size: 468 shares and multiples thereof (minimum investment ₹14,976 at the upper cap)
• Allocation Structure: 75% for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for Retail Individual Investors (RIIs)
• Book-Running Lead Managers: IIFL Capital Services, CLSA India, and Systematix Corporate Services

Under the OFS component, SoftBank subsidiary Starfish I Pte. Ltd.—AceVector's largest shareholder with a 30.11% stake—is paring part of its holding. Other selling entities include Nexus Venture Partners, FIH Business Global, Kenneth Stuart Glass, Jason Ashok Kothari, and Centaurus Trading and Investments. Co-founders Kunal Bahl and Rohit Bansal, who jointly hold nearly 34% through direct holdings and their LLP, are not selling any shares in this issue.

Utilization of Fresh Proceeds

AceVector plans to allocate ₹132 crore from its net fresh proceeds toward marketing and brand promotion for Snapdeal over the next three fiscal years, focusing on customer acquisition across Tier-2 and smaller towns. Another ₹50 crore is earmarked for upgrading cloud infrastructure, data software, and AI-driven personalization technologies, while the remaining balance will support inorganic growth through acquisitions and general corporate purposes.

Business Transformation and Financial Track Record

AceVector operates an asset-light digital commerce network comprising three pillars: * Snapdeal (value e-commerce marketplace centered heavily on apparel and lifestyle merchandise) * Unicommerce eSolutions (an e-commerce enablement SaaS provider, which was listed separately in 2024) * Stellaro Brands (an omnichannel consumer brands business)

The IPO marks a notable transition from the company's peak valuation days in 2016, following years of pivoting away from direct competition with generic horizontal giants toward value-conscious lifestyle shoppers.

In the financial year ended March 31, 2026 (FY26), AceVector recorded a consolidated revenue from operations of ₹510.38 crore, climbing 29% from ₹395.02 crore in FY25. Concurrently, disciplined spending and an asset-light operating model helped narrow its annual net loss to approximately ₹46 crore, compared to ₹126 crore in the preceding fiscal period. Adjusted EBITDA loss also improved, narrowing to ₹15.94 crore from ₹39.16 crore in FY25.

Tags: AceVector Snapdeal IPO NSE BSE SEBI