Snapdeal Makes It To D-Street, But Where’s The Moat?
One of India’s earliest ecommerce marketplaces has finally trotted onto D-Street. After a relatively muted 4.93X subscription to its IPO,…
AceVector, the parent company of India's early ecommerce marketplace Snapdeal, has made its debut on D-Street after a modest IPO that closed on September 29. The company's IPO priced shares in the ₹30-32 band, with a fresh issue of ₹287 Cr and an offer for sale amounting to around ₹133 Cr. Snapdeal's IPO response stands in contrast to its former status as a $6.5 Bn ecommerce giant, backed by investors like SoftBank, Alibaba, and Foxconn.
The company shifted focus to affordable fashion, home, and beauty products in a bid to compete with Amazon and rival Flipkart. AceVector comprises three businesses: Snapdeal, Unicommerce, an ecommerce enablement software, and Stellaro Brands, a consumer-brands arm. While Snapdeal has grown its net merchandise value and customer base, it remains comparatively modest in scale compared to larger platforms.
The company's marketplace revenue rose 17.5% to ₹293.7 Cr in FY26, but its marketplace marketing expenses climbed to ₹84.4 Cr in FY26, highlighting the challenges of sustaining growth in a highly competitive market.
Written by urgent.news from Inc42's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
