AceVector, the parent company of e-commerce platform Snapdeal, has confidentially filed draft papers with the Securities and Exchange Board of India (Sebi) for its proposed initial public offering (IPO).
In a public statement on Saturday, the Gurugram-based company said it has submitted the pre-filed draft red herring prospectus (DRHP) to Sebi and the stock exchanges in connection with its IPO on the main board.
Apart from Snapdeal, AceVector also operates the software-as-a-service (SaaS) platform Unicommerce and the consumer brand-building firm Stellar Brands. Notably, Unicommerce became a publicly listed company in 2024, with its IPO oversubscribed by 168.32 times.
AceVector, founded by Kunal Bahl and Rohit Bansal, has opted for the confidential pre-filing route — a regulatory mechanism that lets companies keep their IPO details private until later stages. This route has grown popular among Indian firms for the flexibility it offers.
In recent months, several companies — including INOX Clean Energy, Shadowfax Technologies, Groww, Gaja Alternative Asset Management, Shiprocket, Tata Capital, PhysicsWallah, and Imagine Marketing (boAt) — have taken the same approach.
In 2024, Swiggy and Vishal Mega Mart also went public after filing confidentially.
According to market observers, the confidential filing route gives companies more time and flexibility by extending the IPO launch window to 18 months (from 12 months in the traditional route) after Sebi’s final comments, and allowing them to modify the primary issue size by up to 50% at the updated DRHP stage.
