AceVector, the parent company of Snapdeal, has fixed the price band for its initial public offering (IPO) at ₹30-32 per share. The ₹420-crore public issue will open for subscription on September 25 and close on September 29, marking the company’s entry into the listed market.
The anchor investor portion will open on September 24. AceVector is expected to list its shares on October 5, according to the issue schedule. At the upper end of the price band, the company is seeking a valuation of about ₹1,741 crore.
The IPO comprises a fresh issue of shares worth ₹287 crore and an offer for sale (OFS) of 4.16 crore shares worth about ₹133 crore. The OFS will allow existing shareholders to sell part of their holdings, with the proceeds going to those investors rather than the company.
The issue is smaller than AceVector’s earlier IPO proposal. The company had initially planned a fresh issue of ₹300 crore along with an OFS of 6.38 crore shares. The revised offer has reduced both the fresh issue and the shares being sold by existing investors.
SoftBank-backed Starfish is among the shareholders participating in the OFS. Nexus Venture Partners and other existing investors are also selling shares. AceVector’s co-founders, Kunal Bahl and Rohit Bansal, are not selling any shares in the IPO. Together, they hold about 33.99% of the company, directly and through their jointly owned entity B2 Professional Services LLP.
The fresh capital will be used primarily to strengthen AceVector’s digital commerce operations. The company plans to spend part of the proceeds on marketing and business promotion for Snapdeal, invest in technology infrastructure and pursue acquisitions as part of its inorganic growth strategy. The remaining funds will be used for general corporate purposes.
AceVector has built its business around an asset-light digital commerce model that combines online retail, technology and consumer brands. Its main businesses include Snapdeal, Unicommerce and Stellaro Brands.
Snapdeal operates as a value-focused lifestyle e-commerce marketplace, targeting consumers looking for affordable products across categories. Unicommerce provides software and technology solutions to help online sellers and retailers manage their e-commerce operations. Stellaro Brands operates in the consumer brands and omnichannel retail segment.
The diversified structure gives AceVector exposure to different parts of the digital commerce value chain. While Snapdeal operates on the consumer side, Unicommerce provides technology infrastructure to businesses, creating a separate business-to-business component within the group.
Unicommerce, which is part of the AceVector ecosystem, was separately listed on the stock exchanges in 2024. Its IPO had received strong demand, with the issue being subscribed more than 168 times.
AceVector’s financial performance has also improved on several operating measures, although the company remains loss-making.
Revenue from operations rose 29.2% to ₹510.38 crore in financial year 2025-26 from ₹395.02 crore in FY25. Its adjusted EBITDA loss narrowed sharply to ₹15.94 crore from ₹39.16 crore a year earlier.
The company nevertheless reported a consolidated net loss of ₹60.7 crore in FY26, compared with ₹139.2 crore in the previous financial year. The numbers indicate that while revenue growth has accelerated and operating losses have narrowed, AceVector has yet to achieve overall profitability.
The company’s planned investment in Snapdeal’s marketing and technology infrastructure comes as the e-commerce business continues to focus on the value segment. Rather than competing across the entire online retail market, Snapdeal has increasingly positioned itself around affordable lifestyle products and price-conscious consumers.
AceVector‘s strategy also includes expanding through acquisitions. The company has identified inorganic growth as one of the uses for the fresh capital raised through the IPO, potentially allowing it to add businesses or capabilities to its existing digital commerce ecosystem.
The IPO comes during an active period for India’s primary market. Several mainboard and small and medium enterprise companies are accessing the capital markets this week, making the AceVector issue part of a broader increase in IPO activity.
For retail investors, the minimum application is 468 shares. At the upper price band of ₹32, one lot requires an investment of ₹14,976. Retail investors can apply for up to 6,084 shares, or 13 lots, according to the issue details.
Qualified institutional buyers will receive 75% of the offer, while 15% has been reserved for non-institutional investors and 10% for retail investors. IIFL Capital Services, CLSA India and Systematix Corporate Services are the book-running lead managers for the issue.
AceVector’s public offering represents an important transition for the Snapdeal parent as it moves from a privately held digital commerce company to a publicly traded business. The IPO will provide fresh capital for its next phase of expansion while giving existing investors an opportunity to partially exit their holdings.
The company’s performance after listing will be closely linked to its ability to sustain revenue growth, reduce losses and build scale across Snapdeal, Unicommerce and Stellaro Brands. Its use of IPO proceeds, particularly in technology, marketing and acquisitions, will also remain a key focus as AceVector begins its life as a listed company.
With the IPO opening on September 25, AceVector is entering the public market at a time when India’s digital commerce sector continues to evolve, with businesses increasingly combining e-commerce platforms, technology services and consumer brands under integrated models.