Snapdeal parent AceVector lists at 12% discount

AceVector, the parent company of e-commerce marketplace Snapdeal, launched its IPO on Monday at a substantial 12% discount to the listed price. The shares opened at Rs 28.32 on the National Stock Exchange (NSE), falling short of the IPO price set at Rs 32. By the close of trading on Monday, the stock had settled at Rs 26.10.AceVector sought to raise Rs 420 crore through the IPO, with Rs 287 crore allocated to fresh capital and Rs 133 crore designated for an offer-for-sale (OFS) segment.

Notable investors participated in the OFS, including SoftBank, Nexus Venture Partners, and Foxconn, among others.SoftBank, one of the OFS participants, retained a 20.3% stake in AceVector following its sale of Rs 88 crore worth of shares. The company's remaining holding is valued at approximately Rs 288 crore. Similarly, Nexus Venture Partners maintained a 6.39% stake, equivalent to Rs 90.7 crore in share value.Foxconn's investment arm, FIH Business Global Pte Ltd, retained a 2.81% stake worth Rs 39 crore.

Founders Kunal Bahl and Rohit Bansal, who collectively own around 28.52% of AceVector, did not sell any shares during the IPO proceedings.Snapdeal, previously a formidable competitor to Flipkart, has experienced a decline in market share over time. AceVector aims to bolster Snapdeal's growth by allocating nearly half of the IPO proceeds towards marketing and promotional initiatives.

Established in 2022, AceVector now oversees Snapdeal, Unicommerce, and Stellaro Brands. Unicommerce went public in 2024 through its own IPO, raising Rs 277 crore.Snapdeal's IPO filing was confidentially submitted in July 2025 and received approval from the Securities and Exchange Board of India (SEBI) in November. The company filed an updated draft prospectus in December, paving the way for the IPO listing.