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E-commerce ecosystem firm AceVector Limited has filed an updated draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO). The parent company of Snapdeal, Unicommerce, which also operates Shipway, Convertway and Stellaro Brands, plans to raise up to Rs 300 crore through a fresh issue and an offer for sale of up to 6.38 crore equity shares. AceVector’s existing shareholders, including SoftBank, Nexus and Foxconn will divest part of their stakes through the OFS.
Ace Vector plans to utilize the proceeds from the fresh issue to strengthen Snapdeal’s technology infra, marketing and business development, pursue inorganic growth opportunities and for general corporate purposes. In terms of financials, AceVector reported 34% year-on-year growth in revenue to Rs 244 crore in H1 FY26 from Rs 181 crore in H1 FY25. Meanwhile, the company managed to narrow its EBITDA loss by 67% to Rs 9.28 crore in H1 FY26. According to the company, it delivered a positive net operating cash flow of Rs 5.07 crore in H1 FY26.
About AceVector
AceVector has been co-founded by tech entrepreneurs Kunal Bahl and Rohit Bansal, the same duo behind India’s e-commerce giant Snapdeal, with AceVector serving as their holding company for ventures like Snapdeal, Unicommerce (SaaS), and Stellaro Brands (consumer brands). AceVector Limited is the parent company of India’s value e-commerce platform Snapdeal, software-as-a-service (SaaS) provider Unicommerce, and brand builder Stellaro Brands, creating a digital commerce ecosystem for India’s mass market.