AceVector Lists About 11.5% Below IPO Price

The muted debut signals investor doubt about Snapdeal’s ability to close a large scale gap with bigger value-commerce rivals.

Overview

AceVector, the Snapdeal parent, began trading on Dalal Street on Monday and opened at roughly ₹28.30 on the BSE and ₹28.32 on the NSE against a ₹32 issue price, an about 11.5% decline on listing.
The company raised ₹420 crore through an IPO made up of a ₹287 crore fresh issue and about ₹133 crore in an offer for sale that closed with roughly 4.93X subscription.
AceVector reported improving top-line metrics for FY26 with NMV up 25.7% to ₹1,093.1 crore and marketplace revenue rising to ₹293.7 crore while its Unicommerce SaaS arm grew faster, with SaaS revenue up 51.6% to ₹204.3 crore.
Proceeds from the fresh issue were earmarked mainly for Snapdeal marketing (₹132 crore) and technology investment (₹50 crore) as the group pursues volume growth through higher customer acquisition and better tech.
Selling shareholders saw uneven outcomes in the OFS with SoftBank’s Starfish recovering a small fraction of earlier costs from an ₹88.3 crore sale while some individual sellers booked large multiples, and the listing will be watched as a test of investor appetite for mid-sized, value-focused e‑commerce plays.