AceVector IPO Raises Rs 189 Crore from Anchor Investors
AceVector, the parent organisation of Snapdeal, Unicommerce, and Stellaro Brands, has successfully secured Rs 189 crore from anchor investors prior to its initial public offering (IPO). The company allocated 5.91 crore shares to 14 anchor investors at Rs 32 per share, which represents the upper limit of its IPO price range. The anchor round was finalised on September 24, just one day before the public offering begins for subscription.
Significant Investments from Major Funds
Negen Undiscovered Value Fund has positioned itself as the top investor in the anchor list, acquiring shares valued at nearly Rs 40 crore. Singularity Growth Opportunities Fund II contributed approximately Rs 27 crore, while Turnaround Opportunities Fund received shares worth nearly Rs 20 crore.
Domestic Mutual Funds Involvement
Domestic mutual funds represented 15.87% of the anchor allocation, with Helios Mutual Fund and Taurus Mutual Fund participating across three different schemes. These two fund houses collectively obtained shares valued at around Rs 30 crore.
Details of the IPO
AceVector’s Rs 420 crore IPO is set to open for subscription on September 25 and will close on September 29. The issue features a price range of Rs 30 to Rs 32 per share and consists of a fresh issue amounting to Rs 287 crore in addition to an offer for sale (OFS) of 4.16 crore shares valued at around Rs 133 crore at the highest price point.
Existing Investors’ Participation
SoftBank, Nexus Venture Partners, and other current investors will divest a portion of their shares through the OFS. Notably, co-founders Kunal Bahl and Rohit Bansal will not be selling any of their shares during the IPO.
Changes to IPO Size and Valuation
AceVector had initially envisioned a larger IPO but has since revised the issue size downwards. The company aims for a valuation of approximately Rs 1,741 crore at the highest end of the price range.
Use of Fresh Capital
The new capital raised is primarily earmarked for marketing and promotional activities for Snapdeal, as well as for technology enhancements, acquisitions, and general corporate use.
Financial Performance
AceVector recorded a rise in its operating revenue of 29% year-on-year, totaling Rs 510.38 crore in FY26, compared to Rs 395.02 crore in FY25. Furthermore, the adjusted EBITDA loss has decreased to Rs 15.94 crore from Rs 39.16 crore during the same timeframe.