Snapdeal parent files fresh IPO papers with SEBI: What's changed?
What's the story
AceVector Ltd, a digital commerce ecosystem backed by SoftBank, has filed updated draft papers with the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). The proposed IPO will include a fresh issue of shares worth ₹300 crore. Along with this, an offer-for-sale (OFS) of 6.38 crore shares by existing shareholders is also planned.
OFS details
Shareholders to offload holdings in AceVector's IPO
The OFS will see shareholders such as Starfish I Pte Ltd, Nexus, Wonderful Star Pte Ltd, Kenneth Stuart Glass, Jason Ashok Kothari, Rupen Investment and Industries, and Centaurus Trading and Investments offloading their stakes. However, AceVector's promoters and founders Kunal Bahl and Rohit Bansal will not be participating in this share sale despite holding a combined stake of 23.56%.
Fund allocation
IPO proceeds will be used for various purposes
The funds raised from the IPO will be used to strengthen the technology infrastructure, support marketing and business promotion for Snapdeal, pursue inorganic growth via acquisitions, and also meet general corporate requirements. The Gurugram-based firm operates Snapdeal, a value-focused e-commerce marketplace; Unicommerce, an e-commerce enablement SaaS platform; and Stellaro Brands, an omnichannel consumer brands arm.
Financials
AceVector's financial performance and IPO journey
AceVector reported an operating revenue of ₹244 crore in H1 FY26, a 34% increase from ₹181 crore in H1 FY25. Its adjusted EBITDA loss also shrank significantly to ₹9.2 crore from ₹28 crore a year earlier during the same period. The firm had started its IPO journey earlier this year by filing confidential draft papers with SEBI in July and getting approval in November.