AceVector, a SoftBank-backed digital-commerce ecosystem, has filed its updated Draft Red Herring Prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise ₹300 through an initial public offering (IPO).
According to the DRHP, the proposed IPO comprise a fresh issue of shares worth ₹300 crore and an offer for sale (OFS) of 63.8 million shares by existing investors.
AceVector’s promoters and founders, Kunal Bahl and Rohit Bansal, who together hold a 34.63% stake, will not participate in the OFS.
This comprises Bahl’s individual shareholding of about 12.42%, Bansal’s individual shareholding of about 11.14% and an additional 11.07% held through their jointly owned entity, B2 Professional Services LLP. Promoter SoftBank’s entity Starfish, which owns a 30.68% stake in the company, will be divesting a part of its stake.
Gurugram-based AceVector is a digital commerce ecosystem comprising a value-focused lifestyle e-commerce marketplace, Snapdeal; an e-commerce enablement SaaS platform, Unicommerce; and an omnichannel consumer brands business, Stellaro Brands.
AceVector’s marketplace business, Snapdeal, is among the top two pure-play value marketplace platforms in India. Unicommerce is the largest e-commerce enablement SaaS platform in the transaction processing layer in India, and Stellaro Brands is focused on incubating and scaling consumer brands.
AceVector is the largest shareholder in Unicommerce, which was listed in 2024 with an IPO oversubscribed nearly 168.32 times.
The filing notes that these three businesses, while strategically aligned, operate independently with diversified revenue streams and distinct market focus areas across large and fast-growing segments of India’s e-commerce sector.
AceVector plans to use the IPO proceeds to fund the technology infrastructure costs, marketing and business promotion expenses of its marketplace, Snapdeal and for funding inorganic growth through acquisitions and for general corporate purposes.
