Acevector IPO(Snapdeal)

AceVector Limited was incorporated as Jasper Infotech Private Limited in September 2007, subsequently renamed Snapdeal Private Limited and Snapdeal Limited, and adopted its present name in January 2023. The company operates an asset-light digital-commerce ecosystem spanning a value e-commerce marketplace, e-commerce-enablement SaaS and consumer brands. Its businesses cover shoppers, sellers, brands and logistics providers across B2C and B2B commerce.

Snapdeal is a pure-play, value-focused marketplace offering fashion, home and general merchandise, and beauty and personal-care products through third-party sellers. It follows a zero-inventory marketplace model and served 18,972 pin codes in FY26. Lifestyle categories accounted for 95.45% of NMV; 83.75% of delivered units were priced below ₹599, and 82.22% originated from non-metro customers. FY26 NMV was ₹1,093.11 crore across 2.60 crore delivered units and 1.22 crore annual transacting customers.

Unicommerce provides e-commerce-enablement SaaS through Uniware, Shipway and Convertway. Uniware supports order, inventory, warehouse and omnichannel-store management; Shipway provides courier aggregation and logistics automation; and Convertway offers AI-enabled marketing automation.

The suite served 8,261 clients and integrated with 353 marketplaces, web stores, logistics partners and operating systems as of March 31, 2026. Uniware’s annual transaction run rate was 115.58 crore, while the SaaS segment generated ₹204.34 crore of FY26 revenue and ₹41.28 crore of adjusted EBITDA.

Stellaro Brands incubates and scales consumer brands across online and offline channels. Its principal brand, Rangita, addresses women’s ethnic wear and currently operates through online channels and 19 omnichannel stores. Consumer-brand revenue was ₹12.81 crore in FY26, contributing 2.51% of consolidated revenue before inter-segment eliminations. Stellaro also uses Snapdeal’s sourcing and consumer insights and Unicommerce’s technology stack.

The FY26 mix comprised Marketplace at 57.5%, SaaS at 40.1% and Consumer Brands at 2.5%, before eliminations. FY26 revenue grew 29.2%, led by 17.5% growth in Marketplace and 51.6% growth in SaaS, the latter benefiting from Uniware growth and a full-year contribution from Shipway and Convertway. The group nevertheless remained loss-making: adjusted EBITDA was negative ₹(15.94) crore, and the restated loss was ₹(45.51) crore in FY26, although both improved from FY25.

The addressable industry remains structurally attractive but highly competitive. India’s e-commerce market expanded from $32.5 billion in FY20 to $95.8 billion in FY25 and is projected to reach $234.4 billion by FY30, a 19.6% CAGR. Within this, value-lifestyle e-commerce is projected to grow from $25.0 billion to $75.3 billion at a 24.7% CAGR, while the online-shopper base is expected to rise from 28-30 crore to 67.5-70 crore. India’s e-commerce-enablement SaaS market is projected to expand from approximately US$1.0 billion in FY25 to US$3.81 billion in FY30, representing a 30.7% CAGR. Growth is expected across pre-purchase, transaction-processing, and shipping and post-delivery functions as sellers automate increasingly complex omnichannel operations.

Snapdeal’s low-ticket lifestyle assortment, non-metro reach and mobile-led discovery model provide direct exposure to this growth; however, participation depends on maintaining product quality, customer trust, competitive fulfilment costs and efficient customer acquisition. Unicommerce participates across all three stages through Convertway, Uniware and Shipway, giving it cross-selling potential and exposure to rising transaction volumes.

Now, Acevector is launching its initial public offering (IPO), which consists of a fresh issue of ₹287 crore and an offer for sale of ₹133 crore only. The total issue size of the IPO is ₹420 crore. Its shares will be listed on the NSE and BSE.

If you are interested in this investment opportunity but unsure how to apply for an Acevector IPO, follow these steps.

When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for the Acevector IPO on Upstox: