Snapdeal Parent AceVector Files IPO Documents, Reduces Share Offering

AceVector Ltd, the parent entity of Indian e-commerce marketplace Snapdeal, has filed its red herring prospectus (RHP) with the Securities and Exchange Board of India (SEBI), marking a step closer to its initial public offering (IPO).

The company has significantly reduced the size of its offer-for-sale (OFS) component, now planning to sell 4.16 million shares, down from the previously proposed 6.39 million. AceVector also raised ₹130 million in a pre-IPO placement, which led to a reduction in its fresh issue component to ₹2.87 billion from the ₹3 billion initially planned.

Proceeds from the IPO are primarily earmarked for marketing and business promotion for Snapdeal, with approximately ₹1.32 billion allocated for digital campaigns, social media, and influencer marketing, particularly targeting value-conscious consumers in smaller cities. An additional ₹500 million will be invested in Snapdeal's technology infrastructure to enhance AI capabilities and user experience.

The remaining funds from the IPO, exceeding ₹1 billion, are designated for potential acquisitions, though specific targets have not yet been identified. AceVector has shown financial improvement, narrowing its net loss to ₹455 million for the fiscal year ended March 2026, a substantial decrease from the ₹1.26 billion loss in the prior year.

AceVector's portfolio includes the Snapdeal marketplace, the house of brands platform Stellaro Brands, and the SaaS company Unicommerce. The company initially filed its IPO documents confidentially in July 2025 and received observations from SEBI in November.