AceVector, Snapdeal parent, opens shares more than 11% below IPO
AceVector, the company behind Snapdeal, had a bumpy first day on the stock market: its shares opened more than 11% below the IPO price on both the NSE and the BSE.
Even with this dip, the IPO actually saw strong demand last week, getting subscribed over five times, especially by non-institutional investors.
IPO priced ₹30-32 and raised ₹420cr
AceVector's IPO was priced between ₹30 to ₹32 per share and raised ₹420 crore to boost its business and marketing efforts, with ₹132 crore set aside for marketing and business promotion expenses for its marketplace business.
Big names like SoftBank's Starfish sold shares under the offer for sale (OFS).
On the financial side, AceVector managed to cut its losses in fiscal 2026 while growing revenue by nearly 30%, showing some positive momentum despite the shaky start on Dalal Street.