Snapdeal Parent AceVector Files Updated DRHP, To Raise INR 300 Cr Via Fresh Issue

Snapdeal parent AceVector Group has filed its updated draft red herring prospectus (UDHRP) with the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO).

As per the UDRHP, the company’s public issue will comprise a fresh issue of equity shares worth up to INR 300 Cr and an offer for sale (OFS) component of up to 6.39 Cr shares. 

Investor and promoter Starfish I Pte. Ltd. plans to offload 4.2 Cr shares, while institutional backer Nexus Venture Partners will sell a combined of 1.3 Cr shares via its three funds. Other investors like Rupen Investment and Industries Pvt. Ltd. and Centaurus Trading and Investments will also participate in the OFS. 

AceVector plans to utilise INR 125 Cr from the IPO proceeds to fund (a portion of) the marketing expenses of the company’s marketplace business. A chunk of the capital will also be utilised to bolster the tech stack of the ecommerce arm, fuel inorganic growth through acquisitions, and for general corporate purposes.

This comes months after AceVector filed its DRHP with SEBI via the confidential route in July. It received the market regulator’s nod to float its IPO last month. 

The Gurugram-based company runs Snapdeal, listed ecommerce enablement platform Unicommerce and a house of brands subsidiary, Stellaro Brands.

On the financial front, AceVector saw its revenue from operations zoom nearly 25% to INR 244.4 Cr in the first half (H1) of the financial year 2025-26 (FY26) as against INR 181.1 Cr in the year-ago period. 

The company’s restated total loss for the period under review stood at INR 22.4 Cr, down nearly 80% from INR 110.3 Cr in H1 FY25. 

(This story will be updated soon)

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