SoftBank-backed AceVector, the parent company of Snapdeal, opened its initial public offering for subscription on Friday, September 25. The AceVector IPO is seeking to raise ₹420 crore and will remain open through September 29.
The company has set a price band of ₹30 to ₹32 per share. At the upper end, AceVector is seeking a valuation of approximately ₹1,741 crore, or about $182 million, according to Reuters and the company’s exchange filing.
AceVector IPO offer structure
The public issue combines a fresh issue worth ₹287 crore with an offer for sale by existing investors. Reuters reported that the offer-for-sale component covers up to 41.56 million shares. The total issue size is approximately ₹420 crore.
AceVector had previously proposed a ₹300-crore fresh issue and an offer for sale of 63.87 million shares. The final offer is therefore smaller than the structure described in its earlier draft documents. Reuters said the reason for reducing the offer was not immediately clear.
Market-platform information published by Zerodha lists a minimum application lot of 468 shares. At the upper price of ₹32, one lot would require ₹14,976, excluding any applicable charges. Investors should verify the final application details in the red herring prospectus and through their broker before placing a bid.
Where the proceeds are expected to go
Earlier offer documents said the company intended to use fresh capital for marketing and business promotion, technology infrastructure, potential acquisitions and general corporate purposes. The final allocation and associated risks are detailed in the prospectus, which should take precedence over summaries.
AceVector operates a digital-commerce ecosystem that includes Snapdeal. It is also associated with Unicommerce, the listed e-commerce software and logistics-technology company. The group’s businesses span online marketplaces and services used by sellers and brands.
Valuation and timetable
The ₹30–₹32 price band places the company’s targeted valuation at up to ₹1,741 crore. The offer is scheduled to close on September 29, while market platforms list October 5 as the expected listing date. Those dates can change if the issuer or exchanges revise the timetable.
The opening comes amid an active period for Indian primary markets, but the existence of demand for other IPOs does not establish how AceVector’s issue will perform. Subscription figures, unofficial grey-market prices and analyst recommendations can move quickly and should not be treated as guaranteed indicators of listing gains.
Prospective investors should review the company’s financial statements, accumulated losses, competitive position, use of proceeds and risk disclosures in the official prospectus. This report describes the offer terms and is not investment advice.
