AceVector Raises Rs 189 Cr From Anchor Investors Ahead of IPO

AceVector Ltd, the SoftBank-backed digital commerce company behind Snapdeal, Unicommerce and Stellaro Brands, has raised Rs 189 crore from anchor investors ahead of its initial public offering.

The company allocated 59.06 lakh equity shares to anchor investors at Rs 32 per share, the upper end of its IPO price band. The anchor allocation included 14 funds, including Helios Mutual Fund, Singularity Growth Opportunities Fund II, Alchemy Long Term Ventures Fund Series 3 and Negen Undiscovered Value Fund.

AceVector's IPO opens for public subscription on September 25 and closes on September 29. The company has set a price band of Rs 30-32 per share, with its shares scheduled to list on October 5.

Rs 420 crore IPO

The public issue comprises a fresh issue of equity shares worth Rs 287 crore and an offer for sale of 4.16 crore shares valued at Rs 133 crore at the upper end of the price band.

Existing investors including SoftBank, Nexus Venture Partners and Foxconn are selling a portion of their holdings through the OFS.

AceVector's co-founders Kunal Bahl and Rohit Bansal are not participating in the OFS. Together, they hold 33.99% of the company individually and through their jointly owned entity, B2 Professional Services LLP.

The company has also reduced the size of the IPO from its earlier plan, which consisted of a Rs 300 crore fresh issue and an OFS of 6.38 crore equity shares.

A digital commerce ecosystem

AceVector operates an asset-light digital commerce ecosystem spanning three businesses.

Snapdeal operates as a value-focused lifestyle e-commerce marketplace, while Unicommerce provides software and technology infrastructure for e-commerce businesses. Stellaro Brands operates an omnichannel consumer brands retailing business.

The portfolio gives AceVector exposure to multiple parts of the digital commerce ecosystem, from consumer-facing online retail to the technology infrastructure supporting e-commerce operations and the distribution of consumer brands.

Unicommerce has already become a publicly listed company. It was listed on the stock exchanges in 2024, with its IPO subscribed more than 168 times.

Revenue grows 29%

AceVector reported operating revenue of Rs 510.38 crore in FY26, up 29% from Rs 395.02 crore in FY25.

At the same time, its adjusted EBITDA loss narrowed considerably.

Adjusted EBITDA loss fell to Rs 15.94 crore in FY26 from Rs 39.16 crore in the previous financial year. This represents a reduction of more than Rs 23 crore in the adjusted EBITDA loss over the period.

The financial performance comes as AceVector prepares to transition from a privately held digital commerce group to a publicly listed company.

How the fresh capital will be used

The fresh issue component of the IPO will provide capital directly to AceVector, while the OFS allows existing shareholders to sell part of their holdings.

The company has not detailed the individual allocation of the fresh proceeds in the supplied source, but the IPO structure separates the Rs 287 crore fresh issue from the Rs 133 crore OFS component.

The presence of existing investors such as SoftBank and Nexus Venture Partners in the OFS means part of the public issue represents secondary sales rather than new capital entering the company.

Meanwhile, the decision by Kunal Bahl and Rohit Bansal not to sell shares means the two co-founders are retaining their existing exposure through the IPO.

From Snapdeal to a broader platform

AceVector's current structure is broader than the Snapdeal marketplace that originally made the company widely known.

Through Unicommerce, the group has exposure to e-commerce enablement software, while Stellaro Brands adds an omnichannel consumer brands business.

This creates a combination of marketplace, software and consumer-brand operations under the same parent company.

The company describes the overall structure as an asset-light digital commerce ecosystem.

The IPO therefore represents not just a public-market event for Snapdeal, but a listing of the wider AceVector group.

Anchor investors enter before public subscription

The Rs 189 crore anchor allocation was completed before the public issue opened.

Of the total anchor allocation, 9.37 lakh shares, representing 15.87%, were allotted to two domestic mutual funds through three schemes.

The participation of multiple institutional funds gives the anchor portion a diversified investor base ahead of the wider IPO subscription period.

The public issue is now scheduled to remain open from September 25 through September 29, followed by the planned stock-market listing on October 5.

The IPO marks the next stage for AceVector

AceVector enters the public markets after reporting higher revenue and a narrower adjusted EBITDA loss in FY26.

Its ecosystem now includes Snapdeal, Unicommerce and Stellaro Brands, giving the company exposure across consumer e-commerce, e-commerce software and omnichannel consumer businesses.

The Rs 420 crore IPO consists of Rs 287 crore in fresh capital and Rs 133 crore of OFS at the upper price band.

With the Rs 189 crore anchor allocation completed, AceVector's public subscription window is now open.

For the company, the IPO marks the next phase of its digital commerce journey as it moves from a venture-backed private business toward a publicly traded company.