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An employee cleans a Snapdeal logo at its headquarters in Gurugram on the outskirts of New Delhi, India, April 3, 2017. Picture taken April 3. REUTERS
Sept 22 (Reuters) – AceVector parent of Indian e-commerce company Snapdeal, is seeking a valuation of up to 17.41 billion rupees ($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 30 to 32 rupees for its 4.2 billion rupee ($43.84 million) IPO, according to an exchange filing.
Here are the details:
- The IPO comprises a fresh issue of shares worth 2.87 billion rupees and an offer for sale of up to 41.56 million shares from existing investors.
- The company earlier planned a fresh issue of 3 billion rupees and an OFS of 63.87 million shares, according to 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 375.55 million rupees for fiscal year 2026, while revenue was 5.1 billion rupees.
- 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.
($1 = 95.8100 Indian rupees)
Reporting by Vivek Kumar M; Editing by Jochelle Mendonca
