AceVector raises ₹189 crore from anchor investors ahead of IPO

AceVector Ltd, the parent company of Snapdeal and Unicommerce, has raised ₹189 crore from anchor investors ahead of its ₹420 crore initial public offering (IPO). The company allocated approximately 5.9 crore shares to 14 funds at ₹32 per share, which represents the upper end of its price band.

Key participants in the anchor round include Negen Undiscovered Value Fund, Singularity Growth Opportunities Fund II, Helios Mutual Fund, and Taurus Ethical Fund. The IPO consists of a fresh issue of shares worth ₹287 crore and an offer for sale (OFS) of 4.16 crore shares. Existing investors such as SoftBank, Nexus Venture Partners, and Foxconn are expected to sell portions of their holdings through the OFS.

The public subscription period is scheduled to open on September 25 and close on September 29, with listing expected on October 5. Co-founders Kunal Bahl and Rohit Bansal will not be selling any shares in this offering.