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Snapdeal Parent AceVector Debuts Weakly on Dalal Street, Stock Plunges 12% Below IPO Price
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CNBC TV18•05-10-2026, 09:52
Snapdeal Parent AceVector Debuts Weakly on Dalal Street, Stock Plunges 12% Below IPO Price
- •AceVector Ltd., Snapdeal's parent company, made a weak Dalal Street debut on October 5, with shares listing at an 11.50% discount on NSE and 11.56% on BSE compared to its IPO price of ’32.
- •The IPO, open from September 25 to September 29, was subscribed 5.07 times overall, raising ’420 crore at the upper end of the ’30-’32 price band, with a post-issue market capitalization of ’1,540.05 crore.
- •The issue included a fresh issue of up to ’287 crore and an offer for sale (OFS) of ’133 crore, with existing shareholders like SoftBank subsidiary Starfish and Nexus Venture Partners selling shares.
- •AceVector plans to allocate ’132 crore from the fresh issue proceeds to marketing and business promotion, ’50 crore to strengthen technology infrastructure, and the remainder for acquisitions and general corporate purposes.
- •The Gurugram-headquartered company, which operates Snapdeal, Unicommerce eSolutions, and Stellaro Brands, reported a narrowed net loss of ’60.7 crore in FY26, with revenue from operations increasing by 29.2% to ’510.4 crore.
Key Questions Answered
Shares of AceVector Ltd. opened at a discount on Monday, October 5, 2026, listing at ₹28.32 on the NSE (an 11.50% discount) and at ₹28.30 on the BSE (an 11.56% discount) compared to the issue price of ₹32.
The initial public offering had a price band of ₹30 to ₹32 per equity share and was subscribed 5.07 times overall by the final day of bidding.
AceVector intends to allocate ₹132 crore toward marketing and business promotion expenses for its marketplace business, dedicate ₹50 crore to strengthen its technology infrastructure, and direct the remaining funds toward acquisitions and general corporate purposes.
