Upcoming IPO: Snapdeal parent AceVector files updated DRHP; targets to raise ₹300 crore via fresh issue

In addition to the fresh issue, the IPO will also involve an offer for sale (OFS) of 6.38 crore shares by existing shareholders, according to the updated draft red herring prospectus (UDRHP).

As part of the OFS, promoter Starfish I Pte Ltd and other shareholders Nexus, Wonderful Star Pte. Ltd, Kenneth Stuart Glass, Jason Ashok Kothari, Priyanka Shreevar Kheruka, Rupen Investment and Industries, and Centaurus Trading and Investments will offload their holdings.

Despite the share sale by several investors, AceVector's promoters and founders, Kunal Bahl and Rohit Bansal, who together hold a 34.63% stake, will not participate in the OFS.

This comprises Bahl's individual shareholding of about 12.42%, Bansal's individual shareholding of about 11.14% and an additional 11.07% held through their jointly owned entity, B2 Professional Services LLP.

However, another promoter entity, Starfish, which owns a 30.68% stake in the company, will be divesting part of its stake.

The company plans to use the IPO proceeds to strengthen technology infrastructure, support marketing and business promotion for Snapdeal, pursue inorganic growth through acquisitions, and meet general corporate requirements.

The Gurugram-based company operates Snapdeal, a value-focused lifestyle e-commerce marketplace; Unicommerce, an e-commerce enablement SaaS platform; and Stellaro Brands, an omnichannel consumer brands arm.

Financially, AceVector reported operating revenue of ₹244 crore in H1 FY26, up 34% from ₹181 crore in H1 FY25.

During the same period, its adjusted EBITDA loss narrowed significantly to ₹9.2 crore from ₹28 crore a year earlier.

AceVector had initiated its IPO journey earlier this year by filing confidential draft papers with Sebi in July and subsequently securing approval in November.

By opting for the confidential pre-filing route, the company gained the flexibility to delay public disclosure of IPO details until the later stages.