AceVector IPO Subscribed 9% On Day 1 So Far, Retail Investors Lead Bidding
Snapdeal parent AceVector’s ₹420 Cr IPO was subscribed 9% as of 14:12 IST on the first day of bidding, with…
AceVector's initial public offering (IPO) saw strong investor appetite on its first day of bidding, with a 9% subscription rate as of 14:12 IST. The demand for 65.11 Lakh shares surpassed the 7.42 Cr shares available for sale. Retail investors were the driving force behind the bidding, subscribing to 36% of their allotted quota for 49.85 Lakh shares.
Non-institutional investors contributed 7% of their portion with 15.27 Lakh shares. The IPO, slated to close on September 29, will be priced between ₹30-₹32 per share, valuing the company up to ₹1,741.4 Cr. Shares are set to debut on BSE and NSE on October 5. The IPO comprises a fresh issue of ₹287 Cr and an OFS of up to 4.16 Cr shares.
AceVector, founded in 2010 by Kunal Bahl and Rohit Bansal, previously competed with Flipkart and Amazon but shifted to a value-focused ecommerce model post the failed merger attempt. The company operates Snapdeal, Unicommerce, and Stellaro Brands. In FY26, AceVector's net loss narrowed by 64% to ₹45.5 Cr from ₹126.3 Cr in FY25, while operating revenue increased by 29.2% to ₹510.3 Cr.
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