Snapdeal parent AceVector lists at 11.5% discount
What's the story
AceVector Ltd., the parent company of e-commerce platform Snapdeal, has made a lackluster debut on the Indian stock market. The company's shares were listed at a discount to their issue price on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). On NSE, AceVector shares opened at ₹28.32 per share, an 11.5% discount to the issue price of ₹32 per share.
IPO details
AceVector's IPO was open for subscription from September 25-29
AceVector's initial public offering (IPO) was open for subscription from September 25 to September 29.
The issue was subscribed 5.07 times overall, with the retail portion being subscribed 4.83 times and qualified institutional buyers (QIBs), excluding anchor investors, subscribing to it 3.42 times.
The non-institutional investors (NII) category was subscribed by 8.53 times by the final day of bidding.
Financial performance
Company's plans to use net fresh issue proceeds
For the fiscal year ending March 2026, AceVector reported a net loss of ₹60.7 crore, down from ₹139.2 crore in the previous fiscal year.
However, its revenue from operations grew by 29.2% to ₹510.4 crore from ₹395 crore a year ago.
The company plans to use ₹132 crore of the net fresh issue proceeds for marketing and business promotion expenses for its marketplace business and another ₹50 crore to strengthen technology infrastructure.