AceVector Ltd, the parent company of Snapdeal, Unicommerce and Stellaro Brands, has raised Rs 189 crore from anchor investors ahead of its initial public offering (IPO). The company completed the anchor allocation on September 24, a day before the public issue opened for subscription.
AceVector allotted 5.91 crore equity shares to 14 anchor investors at Rs 32 per share, which is the upper end of the IPO price band. Negen Undiscovered Value Fund received the largest allocation, with shares worth nearly Rs 40 crore. Singularity Growth Opportunities Fund II was allocated shares worth around Rs 27 crore, while Turnaround Opportunities Fund received shares worth nearly Rs 20 crore.
Domestic mutual funds accounted for 15.87% of the anchor allocation. Helios Mutual Fund and Taurus Mutual Fund participated through three schemes and together received shares worth around Rs 30 crore. No allocations were made to insurance companies or pension funds, as the company received no applications from these categories.
AceVector’s IPO opened for public subscription on September 25 and will close on September 29. The price band has been fixed at Rs 30-32 per share, with investors required to bid for a minimum of 468 shares and in multiples of 468 thereafter. At the upper end of the price band, the minimum retail application amounts to Rs 14,976.
The IPO comprises a fresh issue of Rs 287 crore and an offer for sale (OFS) of up to 4.16 crore shares by existing shareholders. At the upper price band, the OFS is valued at about Rs 133 crore, taking the total issue size to around Rs 420 crore. Existing investors, including SoftBank, Nexus Venture Partners and Foxconn, are among those selling part of their holdings through the OFS.
The proceeds from the fresh issue will be used for marketing and business promotion expenses for AceVector’s marketplace business, technology infrastructure costs, inorganic growth through acquisitions and general corporate purposes.
AceVector operates an asset-light digital commerce ecosystem comprising Snapdeal, a value-focused lifestyle e-commerce marketplace; Unicommerce, an e-commerce enablement SaaS platform; and Stellaro Brands, an omnichannel consumer brands retailing business. Unicommerce was listed on the stock exchanges in 2024, with its IPO subscribed more than 168 times.
For FY26, AceVector reported operating revenue of Rs 510.38 crore, up 29% from Rs 395.02 crore in FY25. Its adjusted EBITDA loss narrowed to Rs 15.94 crore in FY26 from Rs 39.16 crore in the previous year.
