Snapdeal-parent AceVector to launch IPO on September 25; check price band & other key details

Snapdeal parent AceVector, promoted by Kunal Bahl, Rohit Kumar Bansal and SoftBank, has fixed the price band for its initial public offering at Rs 30-Rs 32 per equity share. The public issue will open for subscription on September 25 and close on September 29, while the anchor investor portion will open on September 24.

Investors can bid for a minimum of 468 shares and in multiples thereafter. At the upper end of the price band, the company will raise Rs 420 crore through the IPO and is expected to command a post-issue market capitalisation of about Rs 1,741.4 crore. Trading in AceVector shares on the stock exchanges is expected to begin on October 5.

The IPO, with a face value of Rs 1 per equity share, comprises a fresh issue of up to Rs 287 crore and an offer for sale of shares worth Rs 133 crore. Under the OFS, existing shareholders including SoftBank subsidiary Starfish and Nexus Venture Partners will sell shares.

Other selling shareholders are FIH Business Global, Kenneth Stuart Glass, Jason Ashok Kothari, Rupen Investment and Industries, Centaurus Trading and Investments, and Laurent Bernard Amouyal. Starfish is the largest shareholder in AceVector with a 30.11 per cent stake, followed by Kunal Bahl with 12.19 per cent and Rohit Kumar Bansal with 10.93 per cent. B2 Professional Services LLP, owned by the wives of Bahl and Bansal, holds a 10.87 per cent stake.

Of the total issue, 75 per cent has been reserved for qualified institutional buyers, 15 per cent for non-institutional investors and 10 per cent for retail investors. AceVector has already raised Rs 13 crore in a pre-IPO round, and this amount will be adjusted against the fresh issue component.

It will use Rs 132 crore of the net fresh issue proceeds for marketing and business promotion expenses for its marketplace business, and another Rs 50 crore for technology infrastructure for the marketplace business. The remaining proceeds will be used for inorganic growth through acquisitions and for general corporate purposes.

Gurgaon-headquartered AceVector operates an asset-light digital commerce ecosystem comprising value e-commerce marketplace Snapdeal, e-commerce enablement software-as-a-service platform Unicommerce eSolutions, and consumer brands operated through Stellaro Brands.

The company remains loss-making and reported a net loss of Rs 60.7 crore for FY26, narrowing from Rs 139.2 crore in the previous financial year, while revenue from operations rose 29.2 per cent to Rs 510.4 crore from Rs 395 crore. IIFL Capital Services, CLSA India and Systematix Corporate Services are the merchant bankers to the issue.