AceVector is the parent company of Snapdeal, Unicommerce and Stellaro Brands. AceVector has raised ₹189 crore from anchor investors prior to launching its initial public offering. In this anchor allotment, the company had offered 5.91 crore shares to 14 anchor investors. The shares were issued at ₹32 per share, a limit at the upper end of the price band in the initial public offering. The initial fundraising for this round took place on 24 September, a single day before the issue went on sale to the public.

Anchor allocation and IPO structure

There was significant engagement by well-known institutional investors from the anchor allocation book. Taking a commanding position in this anchor round, Negen Undiscovered Value Fund had bought shares worth almost ₹40 crore. 

Singularity Growth Opportunities Fund II followed with an investment of about ₹27 crore, and Turnaround Opportunities Fund received the allotment of nearly ₹20 crore. The anchor allotment of 15.87% was added by stage 2 in the form of domestic mutual funds. 

Of these domestic institutional investors, Helios Mutual Fund and Taurus Mutual Fund participated in the anchor book through three schemes, acquiring shares worth about ₹30 crore.

AceVector’s initial public offering is an overall offering of ₹420 crore. The public subscription period begins on September 25 and ends on September 29. The price band for the public issue has been fixed by the management at ₹30 to ₹32 per share. 

The offer structure includes two parts, namely the fresh issue raised of ₹2,87 crore, and the offer for sale component. The offer for sale consists of 4.16 crore shares valued at approximately ₹133 crore based on the maximum price limit in the price band.

Current shareholders and significant investors of AceVector are taking advantage of the offer for sale to sell some of their shares. Through this process, key institutional investors such as SoftBank and Nexus Venture Partners are contributing a portion of their equity holdings, while other investors are participating. 

Its cofounders Kunal Bahl and Rohit Bansal are not selling any shares during this public offering. However, the business had initially planned a large public offering that AceVector then opted to reduce in size. The highest price boundary fixed at ₹32 per share implies a valuation for the entire company of approximately ₹1,741 crore.

Capital utilization and financial performance

The new capital raised through the public offering will be deployed in various strategic operating segments. AceVector plans to use these principal proceeds to promote its brand and market strategies, more specifically aimed at the company’s main e-commerce business, Snapdeal.

The proceeds from the marketing efforts will also supplement technological infrastructure improvements, potential business acquisitions, and other general needs for the Corporation. The broader financial analysis of the company shows signs of substantial growth and strength in the financial condition that has led to the IPO. 

For the fiscal year 2026, AceVector made an operating revenue of ₹510.38 crore, which saw an upward trend of 29%, considering that in the financial year 2025, AceVector earned an operating revenue of ₹395.02 crore.

Along with an improvement in revenue, there was progress made by the firm towards improving its operating losses. The EBITDA loss recorded for the fiscal year 2026 was ₹15.94 crore. The EBITDA loss was considerably lower than the EBITDA loss of ₹39.16 crore recorded in the fiscal year 2025.

Conclusion

The anchor listing of ₹189 crore is a success in the performance of the public issue, which is worth ₹420 crore, marking AceVector’s steady institutional interest. As per the anchor allocation, the parent company of Snapdeal and Unicommerce, Stellaro Brands, comes to the subscription window after securing financial support from key domestic institutional investors at the top price band of ₹32 per share. The issue size, around a ₹1,741 crore target valuation, coupled with continuity of equity holdings among the founder and projected top-line operating revenue growth, moderates the drawbacks of adjusted EBITDA losses and creates a base case to abide by when assessing the initial public offering performance.