Snapdeal parent gets SEBI's nod for an IPO in India
What's the story
AceVector, the parent company of popular e-commerce platform Snapdeal, has received approval from the Securities and Exchange Board of India (SEBI) to conduct its initial public offering (IPO). The Gurugram-based firm had filed its draft red herring prospectus through the confidential route in July 2025. The upcoming public issue will comprise a fresh issue of shares as well as an offer for sale by existing investors.
Business overview
AceVector's business portfolio and financial performance
AceVector operates a diverse range of businesses, including Snapdeal, Unicommerce (a software-based commerce enablement platform), and Stellaro Brands. The company reported a revenue of around ₹380 crore for the fiscal year ending March 2024 but posted an adjusted EBITDA loss of ₹16 crore. Its financial numbers for FY25 are yet to be disclosed.
Market evolution
Snapdeal's transformation and Unicommerce's growth
Once a major horizontal marketplace, Snapdeal has transformed into a platform for value seekers. Over 80% of its orders are priced below ₹599. The firm saw a 60% jump in festive season sales during September-October 2025, driven by strong demand in value fashion. Meanwhile, Unicommerce serves more than 7,500 merchants across India and international markets and reported an annual recurring revenue of about ₹200 crore in Q2 FY26, up 75% from FY25.
Brand growth
Stellaro Brands's expansion and AceVector's IPO process
Stellaro Brands is expanding its reach with labels like Rangita in southern markets. AceVector claims its various business units work together and contribute to the company's overall value. The company started its confidential IPO filing in July 2025, with IIFL and CLSA managing the process. This comes as India witnesses a surge of new IPOs, including those from Boat, Wakefit, Shadowfax, Curefoods, Shiprocket, Milky Mist, and Capillary Technologies, all of which have also received SEBI approval recently.