AceVector, the parent company of e-commerce platform Snapdeal, made a weak debut on the stock exchanges on Monday, October 5, with its shares listing below the company’s IPO price.
The company’s shares opened at Rs 28.32 on the National Stock Exchange (NSE), compared with the IPO issue price of Rs 32, representing an 11.5% discount. On the BSE, AceVector shares opened at Rs 28.30, marking an 11.56% decline from the IPO price.
The subdued listing came despite strong investor participation in AceVector’s Rs 420 crore IPO. The issue was subscribed around 5 times during its three-day bidding period. The retail portion was subscribed 4.83 times, while the non-institutional investor category recorded 8.53 times subscription.
AceVector’s IPO consisted of a fresh issue of Rs 287 crore and an offer-for-sale (OFS) of Rs 133 crore. The company had set the IPO price band at Rs 30-32 per share.
Existing investors, including SoftBank and Nexus Venture Partners, partially sold their stakes through the OFS. AceVector’s co-founders, Kunal Bahl and Rohit Bansal, did not sell any shares through the IPO.
The company plans to use part of the IPO proceeds for marketing and promotional activities for its marketplace business. Around Rs 132 crore has been allocated for these expenses, while another Rs 50 crore has been earmarked for technology infrastructure. The remaining proceeds will be used for acquisitions and general corporate purposes.
AceVector operates Snapdeal as well as e-commerce enablement platforms including Uniware, Shipway and Convertway. The company also owns consumer brands through Stellaro Brands.
The company reported an improvement in its financial performance in FY26. Its total income increased 32% year-on-year to Rs 538 crore from Rs 407 crore in FY25. At the same time, its net loss narrowed to Rs 45 crore from Rs 126 crore in the previous financial year.
The weak stock market debut comes after the company’s IPO attracted strong demand from investors during the subscription period. The shares were subsequently listed on both the NSE and BSE on October 5.
AceVector’s listing gives public-market investors exposure to a digital commerce business spanning e-commerce, technology-enabled services and consumer brands through its portfolio of businesses.
Despite the strong subscription levels for the IPO, the shares began trading below the issue price, with the stock opening at Rs 28.32 on the NSE and Rs 28.30 on the BSE.
