AceVector, the parent company of ecommerce platform Snapdeal, is preparing to file its Draft Red Herring Prospectus (DRHP) for a ₹500 crore initial public offering (IPO), according to a report. The public issue is expected to be largely composed of a fresh issue of shares.
“The proposed issue will be majority primary capital and CLSA and IIFL are likely to be the bankers for the proposed IPO,” a source familiar with the matter told the publication.
AceVector currently houses three key businesses under its umbrella—Snapdeal, ecommerce enablement platform Unicommerce (which is already listed), and Stellaro Brands. These entities were brought together under a single group brand in 2022.
Snapdeal, co-founded in 2010 by Kunal Bahl and Rohit Bansal, was once a major player in India’s ecommerce landscape. After a failed merger attempt with Flipkart in 2017 and a period of significant decline, the platform shifted its focus to value ecommerce—an approach that has gradually revitalized its business.
Unicommerce, on the other hand, operates in the SaaS space, providing enterprise solutions for order and inventory management. Its IPO in 2024 was oversubscribed 168 times, with shares listing at a premium of nearly 118%.
Meanwhile, Stellaro Brands focuses on fashion retail, marketing ethnic wear under the Rangita label and Indo-Western clothing under the Urban Mark brand.
AceVector’s planned public issue comes amidst a growing wave of IPOs among tech-driven startups in India. So far this year, companies like Ather Energy and ArisInfra have gone public, while coworking space provider Smartworks is expected to list shortly. WeWork India recently received approval from SEBI to proceed with its own IPO.
The public markets are witnessing increased activity from digital-first businesses, with 19 tech companies having filed their DRHPs, including Meesho, Urban Company, and Groww—many of which have already received regulatory clearances.
AceVector’s IPO is poised to further fuel investor interest in India’s dynamic digital commerce and SaaS ecosystem.
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