- Summary
- Acevector, the parent company of Snapdeal, is launching its ₹420 crore mainboard IPO from 25th to 29th September 2026.
- The issue combines a ₹287 crore fresh issue with a ₹133 crore offer for sale from existing shareholders, and the shares are proposed to list on the NSE and BSE on 5th October 2026.
- The price band is ₹30–32 per share, with a lot size of 468 shares and a minimum investment of ₹14,976.
Acevector (Snapdeal) IPO is a ₹420 crore mainboard book-building issue carrying a face value of ₹1 per share. Subscription runs from 25 September to 29 September 2026, with the price band fixed between ₹30 and ₹32 per share. The issue blends a ₹287 crore fresh issue with a ₹133 crore offer for sale and each lot contains 468 shares. Ahead of the public offer, the company raised ₹189 crore from anchor investors on 24 September 2026.
Individual investors need a minimum of ₹14,976 to apply for one lot at the upper price band. The minimum application for S-HNI investors is 14 lots, or 6,552 shares, requiring ₹2,09,664, while B-HNI investors can apply from 67 lots, or 31,356 shares, for ₹10,03,392. The allotment is expected on 30 September 2026, and the shares are scheduled to make their tentative debut on the NSE and BSE on 5 October 2026.
Acevector IPO Key Details
The main IPO details are set out below.
| IPO Open Date | 25 September 2026 |
| Close Date | 29 September 2026 |
| Face value | ₹1 per share |
| Price Band | ₹30 to ₹32 |
| IPO Lot Size | 468 Shares |
| Fresh issue | ₹287.00 crore approx |
| Offer for Sale | ₹133.00 crore approx |
| Type of issue | Book-building |
| Listing at | NSE and BSE |
| Total Issue Size (₹ Crore) | ₹420.00 cr approx |
| Minimum Investment | ₹189.00 crore |
| IPO Open Date | ₹14,976 (468 shares) |
Acevector IPO Timeline
Here are the important dates from the anchor bidding stage to the proposed listing.
| Anchor Bid Date | 24 September 2026 |
| Bid Opening | 25 September 2026 |
| Bid Closing | 29 September 2026 |
| Tentative Allotment | 30 September 2026 |
| Initiation of Refunds | 1 October 2026 |
| Credit of Shares to Demat | 1 October 2026 |
| Tentative Listing Date | 5 October 2026 |
Key Performance Indicators of Acevector Limited
Acevector has reported a loss in each of the three years covered in the RHP. As a result, the company does not present the usual ROE, ROCE and PAT margin measures as its key performance indicators. Instead, the RHP provides the following metrics.
| 31-03-2026 | 31-03-2025 | 31-03-2024 | |
| ROE (% before exceptional item) | 510.38 | 395.02 | 379.76 |
| ROCE (%) | (4.34) | (27.29) | (9.42) |
| Debt Equity (in times) | (3.12) | (9.91) | (6.98) |
| RoNW (%) | (59.54) | (110.24) | NA* |
Acevector Limited Financial Details
The table below gives a three-year view of Acevector’s revenue, assets and profit or loss. The company reported losses in all three years.
| FY 2025-2026 | FY 2024-2025 | FY 2023-2024 | |
| Revenue | 537.67 | 406.77 | 384.74 |
| Total Asset | 575.28 | 558.09 | 410.50 |
| Profit/(Loss) | (45.51) | (126.31) | (51.30) |
Acevector IPO Subscription Status
The subscription data of the Acevector IPO has been given below.
| Date | QIB (Ex Anchor) | NII | NII (> ₹10L) | NII (< ₹10L) | Retail | Total |
|---|---|---|---|---|---|---|
| Sep 25 (Day 1) | 0.00 | 0.44 | 0.29 | 0.74 | 0.65 | 0.24 |
| Sep 28 (Day 2) | 0.45 | 0.78 | 0.57 | 1.21 | 1.13 | 0.67 |
Acevector IPO Grey Market Premium (GMP)
The latest grey market indication shows a GMP of ₹2 as of 25 September 2026. At the upper IPO price of ₹32, this points to an estimated listing price of ₹34 and an estimated gain of 6.25%. The premium was also ₹2 on 24 September.
| GMP Date | GMP | Est. Listing Price on upper price-₹32.00 | Est. Profit* | Trend |
|---|---|---|---|---|
| 28-Sep 11:37 Sub: 0.38x | ₹0 (0.00%) ▼ | ₹32 | ₹0 | Stable |
| 27-Sep 23:37 | ₹1 (3.12%) ▼ | ₹33 | ₹468 | Stable |
| 26-Sep 23:37 | ₹2 (6.25%) ─ | ₹34 | ₹936 | Stable |
| 25-Sep 23:37 Sub: 0.24x O | ₹2 (6.25%) ─ | ₹34 | ₹936 | Stable |
| 24-Sep 23:37 | ₹2 (6.25%) ─ | ₹34 | ₹936 | Initial |
**GMP refers to the premium at which IPO shares are reportedly traded in the unofficial market before their listing.
Acevector IPO Reservation
The issue follows the alternate eligibility route for companies that do not meet the usual profitability requirements. As a result, a larger portion of the offer is reserved for qualified institutional buyers.
| Investor Category | Shares |
| QIBs | Not less than 75% of the Offer |
| NIIs | Not more than 15% of the Offer |
| Retails | Not more than 10% of the Offer |
Acevector IPO Prospectus
The offer documents for the Acevector IPO include:
About Acevector Limited
Acevector was incorporated in 2007 and operates across digital commerce, e-commerce software and consumer brands. Its main businesses are Snapdeal, Unicommerce and Stellaro Brands. Snapdeal runs a value-focused e-commerce marketplace, while Unicommerce provides e-commerce enablement tools through businesses such as Uniware, Convertway and Shipway. Stellaro Brands operates a portfolio of consumer brands. The businesses share technology, finance and other central functions.
Promoters:
- Kunal Bahl
- Rohit Kumar Bansal
- Starfish I Pte. Ltd.
| Book Runner | IIFL Capital Services Limited CLSA India Private Limited Systematix Corporate Services Limited |
| Issue Registrar | MUFG Intime India Private Limited |
Purpose of Acevector IPO
The fresh issue proceeds are proposed to be used mainly for the Marketplace business.
| Particulars | Estimated Amount in ₹ Crores |
| Funding a portion of the marketing and business promotion expense of the Marketplace business | 132.00 |
| Funding the technology infrastructure costs of the Marketplace business | 50.00 |
| Funding inorganic growth through acquisitions and general corporate purposes | — |
| Total | 182.00 |
Acevector Limited – Strengths and benefits
- Diversified digital-commerce businesses: Acevector operates across Snapdeal, Unicommerce and Stellaro Brands, with shared technology and central functions across the businesses.
- Presence in value-focused e-commerce: Snapdeal serves customers across nearly 19,000 pin codes and focuses on Tier 2 and smaller cities.
- Revenue growth with lower losses: Revenue increased by 32% in FY26, while the loss narrowed substantially compared with FY25.
- Shared technology infrastructure: The businesses use a common technology base, which supports data-led product development and further technology initiatives.
Acevector Limited – Risks and limitations
- Continued losses: Acevector reported losses of ₹51.30 crore in FY24, ₹126.31 crore in FY25 and ₹45.51 crore in FY26. There is no assurance that the company will become profitable.
- Negative operating cash flows: The company reported net cash used in operating activities across all three years covered in the RHP.
- Dependence on the Marketplace business: A substantial part of the company’s revenue comes from its Marketplace business, making its performance important to the wider group.
- Pending legal proceedings: The company, its subsidiaries and certain promoters and directors have pending criminal and tax proceedings, including matters involving Kunal Bahl and Rohit Kumar Bansal. The FY26 audit report also contains a compliance-related modification concerning managerial remuneration at one subsidiary.
Acevector IPO Review
Acevector’s IPO comes with revenue growth and a sharp reduction in losses in FY26, supported by its Snapdeal-led digital commerce business and other platforms. However, the company has remained loss-making across the last three financial years and has reported negative operating cash flows. Pending legal proceedings and a compliance-related audit modification also warrant attention. At the ₹32 upper price band, the latest GMP of ₹2 indicates an estimated ₹34 listing price, although GMP is unofficial and can change.
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Acevector IPO FAQs
Acevector IPO is a ₹420 crore mainboard book-building issue. It includes a ₹287 crore fresh issue and a ₹133 crore offer for sale by existing shareholders. The shares are proposed to be listed on the NSE and BSE.
Investors can apply through a stockbroker or an IPO-enabled trading platform connected to their demat account. Payment can be authorised through UPI or ASBA.
Acevector has recorded revenue growth and a substantial reduction in losses in FY26. However, it has remained loss-making across the three years covered in the RHP and has reported negative operating cash flows.Pending legal proceedings and a compliance-related audit modification are also points investors may want to examine before making a decision.
The IPO opens for subscription on 25 September 2026 and closes on 29 September 2026.
The lot size is 468 shares. At the upper price band of ₹32 per share, one lot requires ₹14,976.
The tentative allotment date is 30 September 2026. Refunds and credit of shares to demat accounts are expected on 1 October 2026.
The shares are proposed to list on the NSE and BSE on 5 October 2026.
