AceVector IPO: Snapdeal parent cuts issue size to ₹420 crore; price band fixed at ₹30-₹32
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AceVector, the parent company of Snapdeal and promoted by Kunal Bahl, Rohit Kumar Bansal and SoftBank, has fixed the price band for its upcoming initial public offering (IPO) at ₹30-₹32 per share. The IPO of the Gurugram-based company will open for subscription on September 25 and close on September 29.
The homegrown digital commerce company has cut the overall IPO size from its earlier proposal, with the fresh issue reduced to ₹287 crore from ₹300 crore. The offer for sale (OFS) component has been cut by 35%, with existing investors now offering 4.16 crore shares, compared with 6.38 crore shares proposed earlier. At the upper end of the price band, the total issue size stands at around ₹420 crore.
Promoter entity Starfish, a subsidiary of SoftBank, and investor Nexus Venture Partners are among the shareholders participating in the OFS. Other selling shareholders include FIH Business Global, Kenneth Stuart Glass, Jason Ashok Kothari, Rupen Investment and Industries, Centaurus Trading and Investments, and Laurent Bernard Amouyal.
Incorporated in 2007, AceVector operates an asset-light digital commerce ecosystem spanning e-commerce, technology, SaaS and consumer brands. Its businesses include Snapdeal, a value-focused lifestyle e-commerce marketplace; Uniware, Convertway and Shipway, which provide e-commerce enablement and SaaS solutions; and Stellaro Brands, its portfolio of value-focused consumer brands.
Snapdeal caters largely to middle-income and value-conscious consumers in tier 2 and smaller cities. In FY26, the marketplace served customers across 18,972 pin codes in India.
Revenue rises, losses narrow
AceVector's total income rose 32% to ₹537.67 crore in FY26 from ₹406.77 crore in FY25. However, the company remained loss-making, with its net loss narrowing to ₹45.51 crore from ₹126.31 crore in the previous financial year.
At the operating level, EBITDA loss also narrowed sharply to ₹22.17 crore in FY26 from ₹107.79 crore in FY25.
How AceVector plans to use IPO proceeds
Of the ₹287 crore fresh issue, AceVector plans to allocate ₹132 crore towards marketing and business promotion expenses for its marketplace business and ₹50 crore towards technology infrastructure.
The company also plans to use a portion of the proceeds for inorganic growth through acquisitions and general corporate purposes.
IPO details
The IPO has a lot size of 468 shares, requiring a minimum investment of ₹14,976 for retail investors at the upper end of the price band.
The company has reserved 75% of the issue for qualified institutional buyers, up to 15% for non-institutional investors and the remaining 10% for retail investors.
AceVector shares are proposed to be listed on the NSE and BSE, with the tentative listing date set for October 5.