SoftBank-backed AceVector Limited has filed its updated draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), proposing to raise ₹300 crore through a fresh issue of shares. The IPO will also include an Offer for Sale (OFS) of up to 63.87 million shares by existing shareholders.
Founders Kunal Bahl and Rohit Bansal, who jointly hold 34.63% in AceVector, will not dilute their stake. Their shareholding includes Bahl’s 12.42%, Bansal’s 11.14%, and another 11.07% held through their jointly-owned entity B2 Professional Services LLP. SoftBank’s investment arm, Starfish, which owns 30.68%, will sell a part of its stake as part of the OFS.
Headquartered in Gurugram, AceVector operates a three-part digital commerce ecosystem comprising the value-focused marketplace Snapdeal, e-commerce SaaS platform Unicommerce, and consumer brands arm Stellaro Brands. While the businesses are strategically linked, the company said they operate independently with diversified revenue streams.
The company plans to use the IPO proceeds to strengthen Snapdeal’s technology infrastructure, ramp up marketing and business promotion, and pursue inorganic expansion opportunities. AceVector highlighted its track record of acquiring and scaling businesses such as Unicommerce and Shipway.
The filing comes at a time when India’s e-commerce sector is expanding rapidly. The market is projected to grow at 19.6% CAGR, rising from US$95.8 billion in FY25 to US$234.4 billion by FY30, driven by increasing internet penetration, digital payments, and demand from non-metro cities.
