Stories
AceVector Shares Crash 14 Percent Following Weak Discount Listing On Stock Exchanges
- •SoftBank-backed AceVector Limited made its market debut on BSE and NSE with shares listing at a discount of up to 12 percent.
- •The stock extended losses during the trading session, dropping by up to 14 percent from its issue price.
- •The 420 crore rupees IPO was subscribed 4.93 times overall on the final day of bidding.
- •The public issue comprised a fresh issue of 287 crore rupees and an offer for sale worth 133 crore rupees.
- •AceVector operates a digital commerce ecosystem that includes Snapdeal, Unicommerce, and Stellar Brands.
Key Questions Answered
AceVector shares made their debut on the BSE and NSE on October 5, listing at a discount of 12 percent at ₹28.30 per share on the BSE and an 11.50 percent discount at ₹28.32 on the NSE. Following the discount listing, the stock crashed further by up to 14 percent.
The ₹420 crore IPO of AceVector Ltd received a total subscription of 4.93 times on the final day of bidding. The non-institutional investors' portion was subscribed 8.16 times, the retail portion was subscribed 4.62 times, and the qualified institutional buyers' portion was subscribed 3.38 times.
AceVector operates a digital commerce ecosystem that includes Snapdeal, a value-focused lifestyle e-commerce marketplace, and Unicommerce, a software-as-a-service platform that enables e-commerce operations. The ecosystem also features Stellar Brands, which sells consumer brands through multiple channels.
