Acevector IPO GMP, Date, Price Band & Review

AceVector IPO Details

AceVector IPO is a 100% book-built mainboard issue of up to approximately ₹420 crore at the upper price band. The issue comprises a fresh issue of equity shares aggregating up to ₹287 crore and an offer for sale of up to 4.16 crore equity shares aggregating up to approximately ₹133 crore by existing shareholders. The equity shares have a face value of ₹1 each. The company will receive the net proceeds from the fresh issue, while the selling shareholders will receive the proceeds from the offer for sale.

The price band of the issue is set between ₹30 and ₹32 per share and the lot size for an application is 468 shares. The minimum amount of investment required by an individual investor is ₹14,976 for one lot of 468 shares at the upper price band. The IPO will open for subscription on September 25, 2026 and close on September 29, 2026, with a tentative listing date fixed as October 5, 2026 on BSE and NSE.

IIFL Capital Services Limited, CLSA India Private Limited and Systematix Corporate Services Limited are the book-running lead managers to the issue. MUFG Intime India Private Limited is the registrar to the AceVector IPO.

AceVector IPO Date & Timeline

AceVector filed its DRHP with SEBI in 2025 and filed its Red Herring Prospectus dated September 21, 2026, for the public issue. The anchor-investor bidding date is September 24, 2026. AceVector IPO will open for subscription on September 25, 2026 and close on September 29, 2026. The basis of allotment is expected on September 30, 2026. Refunds are expected to be initiated and equity shares credited to successful investors’ demat accounts on October 1, 2026. Finally, shares of AceVector are tentatively scheduled to list on BSE and NSE on October 5, 2026.

Company Background

AceVector Limited is a Gurugram-based, asset-light digital-commerce ecosystem. It operates a value e-commerce marketplace under the Snapdeal brand, e-commerce-enable­ment software-as-a-service through Unicommerce eSolutions and consumer brands through Stellaro Brands.

The company was founded by Kunal Bahl and Rohit Kumar Bansal and is also promoted by Starfish I Pte. Ltd., a SoftBank subsidiary. AceVector’s business performance depends on marketplace user acquisition and engagement, gross merchandise value, seller selection, fulfilment quality, marketing efficiency, technology infrastructure, SaaS-platform adoption and the performance of consumer brands.

AceVector serves customers, sellers, brands and e-commerce businesses across India. Its operating performance is influenced by competition from major marketplaces, customer-acquisition cost, user retention, payment and logistics partners, advertising expenditure, technology execution, compliance, consumer spending and the ability to improve marketplace economics.

Operations & Product Range

AceVector operates through three principal business verticals: the Snapdeal value-commerce marketplace, the Unicommerce e-commerce-enablement SaaS platform and Stellaro Brands, its consumer-brands business.

Snapdeal connects value-conscious consumers with sellers across multiple categories. In FY2026, the marketplace business contributed ₹293.7 crore, or 57.5%, of consolidated revenue from operations. It reported net merchandise value of ₹1,093.1 crore, delivered 2.6 crore units and had 1.2 crore annual transacting users.

Unicommerce provides software that helps brands and retailers manage e-commerce operations, including order, inventory, warehouse and omnichannel fulfilment workflows. The SaaS business contributed ₹204.3 crore, or approximately 40%, of FY2026 revenue from operations. Stellaro Brands accounted for ₹12.8 crore, or 2.51%, of revenue.

Platform, Users & Marketplace Metrics

AceVector’s Snapdeal marketplace recorded net merchandise value of ₹1,093.1 crore in FY2026 and delivered 2.6 crore units. Annual transacting users stood at 1.2 crore during the year.

The Snapdeal marketplace operates in a competitive value-commerce segment. Its growth depends on user acquisition, repeat buying, seller engagement, assortment, pricing, logistics performance, customer experience and marketing expenditure. The marketplace business reported an adjusted EBITDA loss of ₹50.2 crore in FY2026, compared with a ₹48 crore loss in FY2025.

The Unicommerce SaaS segment provides a relatively different business mix from the marketplace. Its customer base, software integration, service quality, product development and ability to retain enterprise customers are important to AceVector’s overall financial performance.

Brands & Market Presence

AceVector operates the Snapdeal marketplace, Unicommerce eSolutions e-commerce SaaS platform and Stellaro Brands consumer-brands business. Snapdeal targets value-conscious online shoppers, while Unicommerce serves brands and retailers seeking e-commerce-enablement software.

The company competes in India’s e-commerce, e-commerce-enablement SaaS and consumer-brands markets. Snapdeal competes with larger horizontal marketplaces and value-commerce platforms. Unicommerce competes with other e-commerce and omnichannel software providers. Stellaro competes with digital-first and offline consumer brands.

AceVector’s market position depends on marketplace scale, marketing efficiency, technology capability, seller and brand relationships, user experience, logistics quality, SaaS customer retention and the ability to manage its distinct business verticals.

Revenue Streams & Business Model

AceVector generates revenue through marketplace-related services, e-commerce-enablement SaaS services and consumer-brand operations. The company’s model combines a marketplace business, an e-commerce-enablement SaaS platform and consumer brands.

Revenue increased from ₹379.76 crore in FY2024 to ₹395.02 crore in FY2025 and ₹510.38 crore in FY2026. Revenue growth was approximately 4.0% in FY2025 and 29.2% in FY2026.

Revenue and profitability are influenced by marketplace demand, seller services, GMV, advertising and promotion costs, SaaS subscriptions and customer retention, consumer-brand sales, logistics and payment costs, employee expenses, technology investment and the degree of operating leverage across the platform.

Financial Performance

AceVector reported revenue of ₹379.76 crore in FY2024, ₹395.02 crore in FY2025 and ₹510.38 crore in FY2026. Total income increased from ₹384.74 crore in FY2024 to ₹406.77 crore in FY2025 and ₹537.66 crore in FY2026.

The company reported a net loss of ₹51.30 crore in FY2024, ₹126.31 crore in FY2025 and ₹45.51 crore in FY2026. The loss narrowed by approximately 64% in FY2026, although AceVector remained loss-making.

Adjusted EBITDA loss narrowed to ₹15.94 crore in FY2026 from ₹39.16 crore in FY2025. Operating cash flow was negative ₹1.80 crore in FY2026, improving from negative ₹27.35 crore in FY2025.

Total equity was ₹260.35 crore as of March 31, 2026, compared with ₹188.40 crore as of March 31, 2025. Investors should assess the pace of loss reduction, marketplace profitability, marketing expenditure, operating cash flow, capital needs, competitive intensity and the contribution of the Unicommerce SaaS business before investing.

Management & Shareholding

AceVector is promoted by Kunal Bahl, Rohit Kumar Bansal and Starfish I Pte. Ltd., a SoftBank subsidiary. Before the IPO, Starfish held 30.11% of the company, while Kunal Bahl and Rohit Kumar Bansal held 12.19% and 10.93%, respectively. B2 Professional Services LLP, a promoter-group entity, held a further 10.87%.

The IPO includes an OFS of up to 4.16 crore shares. Starfish I Pte. Ltd. is the largest selling shareholder, offering up to 2.76 crore shares. Kunal Bahl and Rohit Kumar Bansal are not selling shares in the IPO. The fresh issue will dilute existing ownership, while the OFS will reduce the holdings of the selling shareholders.

The company will receive the net proceeds from the fresh issue, while the selling shareholders will receive the OFS proceeds.

Board & Key Management

AceVector was founded by Kunal Bahl and Rohit Kumar Bansal, who are also promoters along with Starfish I Pte. Ltd., a SoftBank subsidiary. Kunal Bahl and Rohit Kumar Bansal lead the company’s strategic direction, marketplace operations and digital-commerce expansion.

The Board and senior-management team oversee marketplace operations, SaaS-platform development, consumer-brand strategy, marketing, technology, seller and customer relationships, finance, governance, compliance and the operating performance of Snapdeal, Unicommerce and Stellaro Brands.