AceVector sets ₹30-32 price band for ₹420 crore IPO

AceVector, the parent company of e-commerce platform Snapdeal, has announced a price band of ₹30-32 per share for its ₹420 crore initial public offering (IPO). At the upper end of this range, the company will be valued at approximately ₹1,741 crore ($182 million).

The IPO consists of a fresh issue worth ₹287 crore and an offer for sale (OFS) of up to 4.16 crore shares. Major investors, including SoftBank’s Starfish I Pte Ltd and Nexus Ventures, are participating in the OFS. The subscription period is scheduled to open on Friday, September 25, and close on September 29, with listing on the BSE and NSE expected on October 5.

This public debut coincides with a strategic pivot for Snapdeal. CEO Achint Setia stated the company is shifting from a general marketplace to a curated fashion and lifestyle experience. The company is targeting price-conscious consumers in the ₹300-800 range and has noted that over two-thirds of its new customers are from the Gen Z demographic.