Team StartupCity

• AceVector files updated DRHP to raise up to Rs 300 crore through a fresh issue
• Existing investors like SoftBank and Nexus to sell shares; founders to retain full stakes
• Company posts strong H1 FY26 performance with revenue growth and positive cash flow

AceVector Limited, the parent company of Snapdeal and Unicommerce, has submitted an updated draft red herring prospectus (UDRHP) to SEBI for its planned IPO. The company aims to raise up to Rs 300 crore through a fresh issue, along with an offer for sale (OFS) of up to 6.38 crore equity shares by existing shareholders.

Major investors such as SoftBank, Nexus, and Foxconn will partially exit through the OFS. Notably, Co-founders Kunal Bahl and Rohit Bansal, who jointly hold 34.63% of the company, will not sell any shares. AceVector had previously filed a confidential draft prospectus in July 2025.

Snapdeal, AceVector’s flagship marketplace, focuses on value-driven products, with most items priced under Rs 599. It attracts a large customer base from non-metro cities and is anchored by lifestyle categories. The group also owns Unicommerce listed in 2024 and offering SaaS solutions for e-commerce businesses and Stellaro Brands, which operates women’s ethnic wear label Rangita across online platforms and 12 physical stores.

AceVector plans to allocate the fresh capital toward upgrading Snapdeal’s technology infrastructure, boosting marketing and business development, exploring acquisitions, and meeting general corporate needs.

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Financially, the company reported strong momentum in H1 FY26. Revenue grew 34% year-on-year to Rs 244 crore, up from Rs 181 crore in the same period last year. It also reduced its EBITDA loss by 67% to Rs 9.28 crore and generated a positive net operating cash flow of Rs 5.07 crore.

The IPO, once cleared, is expected to support AceVector’s ongoing turnaround and growth strategy.