AceVector, parent of Indian e-commerce company Snapdeal, is seeking a valuation of up to Rs 1,741 crore ($181.71 million) in a trimmed initial public offering that will open for public subscription on September 25.
The company has set a price band of Rs 30-32 for its Rs 420 crore ($43.84 million) IPO, according to an exchange filing.
The IPO comprises a fresh issue of shares worth Rs 287 crore and an offer for sale of up to 41.56 million shares from existing investors.
The company earlier planned a fresh issue of Rs 300 crore and an OFS of 63.87 million shares, according to its updated draft red herring prospectus. It was not immediately clear why the offer size was reduced.
AceVector plans to use IPO proceeds for marketing and business promotion, technology infrastructure costs and inorganic growth opportunities.
Controlling shareholder Starfish, owned by SoftBank, plans to sell up to 27.61 million shares in the IPO, while Nexus Venture Partners is also among shareholders selling stakes.
The IPO will close on September 29, while the stock is expected to begin trading from October 5. Anchor investors can bid on September 24.
AceVector‘s consolidated loss before exceptional items and tax stood at Rs 37.5 crore for fiscal year 2026, while revenue was Rs 510 crore.
The IPO comes at a busy time in India as primary market activity picked up pace in the second half of 2026 after a muted first half due to geopolitical tensions.
Reuters
