About Acevector IPO
AceVector Ltd. filed its Updated Draft Red Herring Prospectus-I (UDRHP-I) on December 6, 2025. The AceVector IPO is a 100% book-built offer with an aggregate total size comprising a fresh issue of up to ₹300 crore and an offer for sale of up to 63,870,763 equity shares by the promoters and existing investors.
The price band, opening date, closing date, and total issue size are yet to be announced through newspaper advertisements (a public announcement); the shares are finalized to be listed on both the BSE and NSE. For the AceVector IPO, the Book Running Lead Managers (BRLM) fixed by the company are IIFL Capital Services Ltd. and CLSA India Private Ltd. The registrar for the offer is MUFG Intime India Private Ltd.
The company is eligible for the offer under SEBI Regulation 6(2), as it has reported operating losses in the preceding 3 financial years.
Company Background
AceVector Ltd. was incorporated in September 2007 as Jasper Infotech Pvt. Ltd. The company is famously recognized for its evolution into Snapdeal. Over the years, it underwent several name changes from Snapdeal Private Limited to Snapdeal Limited and finally to AceVector Ltd. in January 2023. Headquartered in New Delhi with a corporate office in Gurugram, the company has transformed from a single-platform marketplace into a multi-engine digital ecosystem. It now operates as a parent entity managing a portfolio of businesses that span the entire e-commerce value chain in India.
Operations & Product Range
The operations of AceVector Ltd. are structured around 3 distinct "engines" that address different segments of the digital economy. Those segments are
- • Snapdeal: A value-focused online marketplace providing affordable lifestyle products (fashion, home, beauty) to the "Bharat" segment (Tier 2+ cities).
- • Unicommerce: An e-commerce enablement SaaS provider that helps other businesses manage their online operations.
- • Stellaro Brands: A house of consumer brands specifically designed for the online-first audience.
This asset-light model (business model) allows the company to focus on technology and operational expertise rather than maintaining heavy physical inventory.
Facilities & Capacity
As a digital-first organization, AceVector Ltd. believes in working with modern technology instead of traditional ones. This company has its own 5 proprietary platforms that are designed for high scalability, supporting millions of app downloads and transacting customers. The company focuses on a zero-inventory marketplace model, which enables it to scale rapidly across non-metro markets without the capital expenditure typically required for physical facility expansion.
Brands & Market Presence
AceVector IPO has built a market presence that emerges as one of the key aspects, especially through Snapdeal, which stands as one of the leading pure-play value marketplaces in India. Snapdeal has reportedly clocked over 100 million downloads on the Google Play Store, which indicates its strong presence in the market. Apart from that, in terms of e-commerce enablement, the SaaS offerings through Unicommerce reflect the increasing market presence of the company.
Revenue Streams & Business Model
The revenue model of AceVector Ltd. is diversified across its 3 core business verticals.
- • Marketplace fees from Snapdeal (commissions, logistics services and subscription fees)
- • Product sales under Stellaro Brands
Management & Shareholding
Promoters & Shareholding
The promoters of the company are Kunal Bahl, Rohit Kumar Bansal and Starfish I Pte. Ltd. Before the AceVector IPO, the promoters held a significant portion of the equity. Kunal Bahl and Rohit Kumar Bansal have been instrumental in the company’s journey from its inception in 2007. After the IPO, shareholding will see a dilution as the promoters and several institutional investors, including Nexus India Direct Investments and Wonderful Star Pte. Ltd., participate in the Offer for Sale.
Board & Key Management
The board members and key management of AceVector Ltd. are led by Independent Chairman Kasaragod Ullas Kamath, a veteran in the Indian corporate sector. The leadership includes Managing Director Kunal Bahl and Executive Director Rohit Kumar Bansal. Financial operations are overseen by CFO Bharat Venishetti, ensuring that the company maintains its strategic focus on capital efficiency.
Acevector IPO Details
| Detail | Description |
|---|---|
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹ 1 per Equity Share |
| Issue Price Band | [.] |
| Lot Size | [.] |
| Sale Type | Fresh Issue + Offer for Sale (OFS) |
| Total Issue Size | Up to ₹ 300.00 Cr (Fresh) + 6,38,70,763 Shares (OFS) |
| Fresh Issue(Ex Market Maker) | Up to ₹ 300.00 Cr |
| Offer for Sale | Up to 6,38,70,763 Equity Shares |
| Issue Type | 100 % Book Built Offer |
| Listing At | BSE and NSE |
| Share Holding Pre Issue | 62,59,48,225 Equity Shares (Total Equity as of UDRHP) |
Acevector IPO Financial Information
Latest Revenue
251.91
₹ Crore
Profit After Tax
(19.22)
₹ Crore
Net Worth
135.94
₹ Crore
Total Borrowing
20.58
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing | |||
|---|---|---|---|---|---|---|---|---|---|
| As of Sept 30, 2025 | 374.96 | 251.91 | (19.22) | 135.94 | (1,165.71) | 20.58 | |||
| FY 2024-25 | 378.18 | 406.77 | (120.65) | 120.40 | (1,146.49) | 15.56 | |||
| FY 2023-24 | 293.75 | 384.74 | (45.88) | 226.74 | (1,025.91) | 16.07 | |||
| FY 2022-23 | 285.93 | 388.13 | (264.44) | 266.39 | (980.20) | 3.81 | |||
| Amount in ₹ Crore | |||||||||
Acevector Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | (14.14)% |
| ROCE | (11.97)% |
| Debt/Equity | 0.15 |
| PAT Margin | (7.86)% |
| EBITDA Margin | (4.40)% |
| Price to Book Value | [.] |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | ₹ (1.38) | [.] |
| P/E (x) | [.] | [.] |
IPO Objectives
Proceeds are planned to be utilized from the fresh issue of the AceVector IPO for specific growth purposes.
- • Funding organic growth initiatives
- • Investment in technology and infrastructure to enhance platform capabilities
- • General corporate purposes
Conclusion
AceVector Ltd. presents a unique case of a legacy e-commerce player that has successfully pivoted into an asset-light, multi-platform ecosystem. Its dominance in the value-conscious "Bharat" market via Snapdeal, combined with a growing SaaS business, positions it at the intersection of B2C and B2B opportunities. While the company has historically reported operating losses, its strategic shift toward high-margin SaaS and consumer brands indicates a focus on long-term sustainability and operational synergy. The AceVector IPO will be a key event for investors looking at the evolving landscape of India's digital economy.
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Competitive Strengths
Integrated digital ecosystem spanning marketplace, SaaS, and consumer brands.
| Sr.no | Description | Date | File |
|---|---|---|---|
| 1 | SEBI/Exchange approval received | 11/11/2025 | - |
| 2 | Filed with SEBI/Exchange | 17/07/2025 | - |
Acevector IPO Timeline
| IPO Open Date | [.] |
| IPO Close Date | [.] |
| Tentative Allotment | [.] |
| Initiation of Refunds | [.] |
| Credit of Shares to Demat | [.] |
| Tentative Listing Date | [.] |
| Cut-off time for UPI mandate confirmation | - |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | [.] | ₹14,000 - ₹15,000 |
| Individual investors (Retail) (Max) | 13-14 | [.] | Up to ₹2,00,000 |
| S-HNI (Min) | 14-15 | [.] | Over ₹2,00,000 |
| S-HNI (Max) | 66-70 | [.] | Up to ₹10,00,000 |
| B-HNI (Min) | 71+ | [.] | Over ₹10,00,000 |