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₹30 - 32Day cells show that day's addition; Now is the running total. Amounts at the upper price band.
AceVector Ltd
E-Commerce/App based AggregatorIPO
₹30 - 32
We are a digital commerce ecosystem comprising (i) Snapdeal, a value focused lifestyle e-commerce marketplace, (ii) Unicommerce, an e-commerce enablement SaaS platform, and (iii) Stellaro Brands, an omnichannel consumer brands retailing business. Together, these businesses cover the entire e- commerce value chain across B2C and B2B segments catering to multiple stakeholders vertically viz., through both online and offline modes and horizontally viz., consumers, sellers, brands and logistics providers. Snapdeal's operational model is designed for cost efficiency and scale. We integrate comprehensive technological support, including inventory management and courier aggregation from Unicommerce, an approach which is reflected in our brand, Rangita, a women's ethnic wear label, which is also part of Stellaro Brand's omnichannel strategy.
Lot468Min Invest₹14,976Face Value₹1Issue Size₹420 CrFresh Issue₹287 CrOffer for Sale₹133 CrListing Price₹28CMP₹24
Timeline
25 Sept
Bidding opens
29 Sept
Bidding closes
30 Sept
Allotment
1 Oct
Refund & demat credit
5 Oct
Listing
Subscription · As of 7:58 PM, 29 Sept
Demand by day
CategoryDay 1Day 4Day 5Now+0.00x+1.03x+2.35x3.38x+0.42x+0.83x+6.91x8.16x+0.62x+0.74x+3.25x4.62xOverall+0.23x+0.92x+3.78x4.93x
Shares & amount
CategorySubscriptionShares OfferedShares BidAmt ₹ CrQIB3.38x9.23 Cr31.17 Cr997.54NII8.16x1.85 Cr15.06 Cr481.86Retail4.62x1.23 Cr5.68 Cr181.78Total4.93x13.13 Cr64.71 Cr2,029.63
Reports
Offer Details
Terms
Issue Size₹420 Cr13.13 Cr shares
Fresh Issue₹287 Cr
Offer for Sale₹133 Cr
Face Value₹1
Lot Size468 shares
ReservationQIB 75% · NII 15% · RETAIL 10%
Application Sizes
Retail₹14,9761-13 lots
sNII₹2,09,664from 14 lots
bNII₹10,03,392from 67 lots
Managers & Registrar
Lead ManagerIIFL Capital Services Limited
Co-ManagerCLSA India Private Limited, Systematix Corporate Services Limited
RegistrarMUFG Intime India Pvt Ltd
Ownership & Proceeds
Offer for Sale
Selling ShareholderShares OfferedAmt ₹ CrStarfish I Pte. Ltd.PRMTR2,76,07,08288.34Nexus India Direct Investments IIOTH73,91,11323.65FIH Business Global Pte. Ltd. (formerly known as Wonderful Star Pte. Ltd.)OTH17,40,5285.57Nexus Opportunity Fund LtdOTH8,39,7132.69Nexus Ventures III, Ltd.OTH4,65,5991.49Rupen Investment and Industries Private LimitedOTH2,69,1200.86Centaurus Trading and Investments Private LimitedOTH2,69,1200.86Kenneth Stuart GlassOTH13,20,7994.23Jason Ashok KothariOTH11,11,6803.56Misha KohliOTH2,15,2800.69Laurent Bernard AmouyalOTH2,24,7860.72Radhika GuptaOTH53,8400.17Nalin Luis MonizOTH53,8400.17Total4,15,62,500133.00
Shareholding
CategoryPre IPOPost IPOPromoter Group64.1%48.83%Public35.9%51.17%
Objects of the Issue
- Funding a portion of the marketing and business promotion expense of the Marketplace business of the Company
- Funding the technology infrastructure costs of the Marketplace business of its Company
- General corporate purposes
Anchor Book
Bid Date24-Sep-2026Bid Price₹32Shares5,90,62,500Amount₹189 CrMutual Funds15.87% of the book30-day lock-in29-Oct-202690-day lock-in28-Dec-2026
Financials
Profit & Loss
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| RevenueCr | 540 | 372 | 380 | 395 | 510 |
| Operating ProfitCr | -510 | -286 | -38 | -46 | -49 |
| OPM% | -94.5 | -76.9 | -10.0 | -11.6 | -9.7 |
| PBTCr | -507 | -265 | -46 | -121 | -38 |
| PATCr | -508 | -268 | -51 | -126 | -46 |
| EPS | -13 | -6 | -1 | -3 | -1 |
Balance Sheet
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Equity CapitalCr | 40 | 40 | 40 | 40 | 45 |
| ReservesCr | 286 | -17 | -169 | 87 | 57 |
| BorrowingsCr | 0 | 4 | 16 | 16 | 20 |
| Total AssetsCr | 608 | 378 | 411 | 558 | 575 |
Cash Flow
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Operating Cash FlowCr | -338 | -209 | -55 | -27 | -2 |
| Investing Cash FlowCr | 238 | 169 | -33 | -103 | 18 |
| Financing Cash FlowCr | 93 | 30 | 69 | 127 | -6 |
| Net Cash FlowCr | -8 | -11 | -18 | -3 | 10 |
Strengths & Risks
Strengths · as stated in the DRHP
- Diversified ecosystem driving organic and inorganic growth across businesses with centralised strategy support, shared capabilities, and financial efficiency.
- Leading value-focused e-commerce marketplace purpose-built for value shoppers, offering a wide range of high quality lifestyle products.
- Robust unit economics with operating leverage in effect, ensuring improved profitability.
- Proprietary technology stack powering discovery-led, personalised shopping experience.
- Ability to identify, acquire, and scale businesses across the e-commerce value chain.
- Robust governance practices, experienced management and marquee investors.
Strategies · as stated in the DRHP
- Continue to provide strategic direction, cost synergies and cost governance oversight to drive growth and efficiency across our businesses.
- Deepen Snapdeal's presence in value lifestyle e-commerce through enhancements in customer experience and brand awareness.
- Drive Snapdeal's profitability through disciplined cost optimisation.
- Expand usage of Unicommerce's suite of e-commerce enablement platforms with a focus on profitable growth.
- Strengthen Stellaro Brands' capabilities and operational playbook to scale Rangita across channels and expand the portfolio of consumer brands.
- Explore inorganic growth opportunities through strategic M&A across e-commerce value chain.
Risks · as stated in the DRHP
- The company has incurred restated loss of Rs.455.06 million, Rs.1,263.06 million andRs.512.97 million in the Financial Years ended March 31, 2026, 2025 and 2024 respectively. If the company is unable to generates adequate revenue growth and manage its expenses and cash flows as the company grow, its may continue to incur losses in the future.
- The company has had net cash flows used in operating activities for the Financial Years 2026, 2025 and 2024 and net cash flows used in financing activities for the Financial Year 2026 and its may continue to have a net used cash position in the future.
- A significant portion of the company's revenue from operations is generated through Snapdeal, its marketplace business. As per Ind AS 108 - Operating Segments, the company's revenue from operations - marketplace contributed to Rs.2,936.75 million, Rs.2,498.67 million and Rs.2,528.87 million in Financial Years 2026, 2025 and 2024, respectively, which amounted 57.54 %, 63.25% and 66.59%, respectively, of the company's revenue from operations. Its efforts to acquire new users, clients and customers of the company's business and retain them may not be successful or may be more costly than its expect, which could prevent the company from maintaining or increasing its revenue.
- The company operates in a highly competitive industry and its failures to compete effectively could have a negative impact on the success of the company's business and/or impact its margins.
- If the company is unable to manage its growth or execute the company's strategies effectively, its business plan and expansion may not be successful, and the company's business and prospects may be adversely affected.
- The company's business depends on the growth of the e-commerce industry in India and its ability to effectively respond to changing user behaviour on digital platforms. In the event the growth of the company's businesses is not in tandem with the growth of the e-commerce industry, its results of operations, financial condition, cash flows and prospects could be adversely affected.