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2 clusters · 4 sources · 4 days · First seen · Last updated

AceVector initial public offering process

Overview

AceVector, the parent company of e-commerce platform Snapdeal, has initiated its ₹420 crore initial public offering (IPO) process. The company initially set a price band of ₹30-32 per share, which would value the firm at approximately ₹1,741 crore at the upper limit.

Ahead of the public subscription period, AceVector successfully raised ₹189 crore from 14 anchor investors, with shares allocated at the upper price of ₹32. The offering includes a fresh issue of ₹287 crore alongside an offer for sale (OFS) involving shares from existing investors such as SoftBank, Nexus Venture Partners, and Foxconn.

The IPO is scheduled to open for subscription on September 25 and close on September 29, with a projected listing on the BSE and NSE on October 5. This financial move aligns with a strategic shift for Snapdeal toward a curated fashion and lifestyle marketplace targeting price-conscious consumers.

Entities

SoftBank · AceVector Ltd · Kunal Bahl · BSE · Unicommerce

Timeline

  1. [BUSINESS] 2 sources
    AceVector raises ₹189 crore from anchor investors ahead of IPO

    AceVector, parent of Snapdeal and Unicommerce, raised ₹189 crore from anchor investors ahead of its ₹420 crore IPO opening September 25.

  2. [BUSINESS] 3 sources
    AceVector sets ₹30-32 price band for ₹420 crore IPO

    AceVector, parent of Snapdeal, has set a ₹30-32 price band for its ₹420 crore IPO, marking a strategic pivot toward curated value fashion for Gen Z consumers.

Sources

inc42.com · news18.com · newsbytesapp.com · techstory.in