AceVector, backed by softbank, has filed updated documents with the Securities adn Exchange Board of India (Sebi) for its initial public offering (IPO), aiming to raise ₹300 crore through a fresh issue of shares.
The IPO will also include an offer-for-sale (OFS) of 6.38 crore shares from existing shareholders, as detailed in the updated draft red herring prospectus (UDRHP). Selling shareholders include Starfish I Pte Ltd, Nexus, Splendid Star Pte Ltd, Kenneth Stuart Glass, Jason Ashok Kothari, Priyanka Shreevar Kheruka, Rupen Investment and Industries, and Centaurus Trading and Investments.
Notably, AceVector’s promoters and founders, Kunal Bahl and Rohit Bansal – holding a combined 23.56% stake – will not participate in the OFS. however, Starfish, holding a 30.68% stake, will divest a portion of its shares.
AceVector intends to utilize the IPO proceeds to bolster its technology infrastructure, fund marketing and business promotion for Snapdeal, explore acquisitions for inorganic growth, and cover general corporate expenses.
The Gurugram-based company’s portfolio includes Snapdeal, a value-focused e-commerce marketplace; Unicommerce, a SaaS platform for e-commerce enablement; and Stellaro Brands, an omnichannel consumer brands division.
AceVector reported operating revenue of ₹244 crore for the frist half of fiscal year 2026, a 34% increase from ₹181 crore in the same period of fiscal year 2025. Its adjusted EBITDA loss narrowed to ₹9.2 crore from ₹28 crore year-over-year.
The company initially filed confidential draft papers with Sebi in July and received approval in November, leveraging the confidential pre-filing process to maintain versatility regarding the timing of public disclosure.
