AceVector Quietly Files for IPO: Snapdeal Parent Joins Wave of Confidential Draft Filings With SEBI

Key highlights

 

AceVector Group, the parent company of e-commerce marketplace Snapdeal, has confidentially filed draft red herring papers with SEBI for its much-anticipated initial public offering (IPO), marking its latest move to tap public markets amid a wave of tech sector debuts.

 

About the Filing and Company Structure

 

The confidential draft red herring prospectus (DRHP) allows AceVector to keep details—such as issue size, valuation, and timing—private during the early regulatory review, a strategy increasingly favored in India to maintain flexibility. The company may eventually look to raise around Rs 500 crore through the IPO.

 

AceVector was founded by Kunal Bahl and Rohit Bansal and is headquartered in Gurugram. Its business interests go beyond Snapdeal to include Unicommerce, a SaaS platform specializing in e-commerce enablement, and consumer brand-building venture Stellar Brands.

 

Unicommerce itself debuted on the stock exchanges in August 2024, with its IPO seeing a significant oversubscription of 168.32 times and over 30% annual revenue growth, positioning AceVector as an operator of established digital verticals.

 

Why Confidential Filing?

 

The confidential pre-filing route offers AceVector a longer, 18-month window to launch after SEBI comments (compared to 12 months for traditional filings), and flexibility to modify the fresh issue size by up to 50% before subsequent disclosures—a key advantage in volatile market conditions.

 

Snapdeal, AceVector’s flagship business, saw modest sales growth (Rs 380 crore in FY24, up 2%) and a sharp narrowing of losses (down 43% to Rs 160 crore), reshaping its financial profile for prospective investors.

 

Industry Context and Outlook

 

AceVector joins a growing list of new-economy firms—such as Swiggy, Groww, Shiprocket, PhysicsWallah, and boAt—leveraging confidential filings amid robust capital market activity, with tech-led IPO proceeds expected to cross Rs 18,000 crore this year.

 

Reports indicate CLSA and IIFL have been appointed as lead bankers and the bulk of the IPO will comprise primary capital.

 

Market observers say this move positions AceVector to gauge investor appetite—and refine its offer quietly—before making a final splash on Dalal Street.

 

Sources: Economic Times, Business Standard, YourStory