AceVector IPO: SoftBank-backed Snapdeal parent resubmits draft papers to Sebi; plans Rs 300 crore new issue – The Times of India

SoftBank-backed digital trading ecosystem AceVector Ltd has filed an updated draft red herring prospectus (UDRHP) with market regulator Sebi for the proposed initial public offering, which includes a fresh issue of shares worth Rs 300 crore, according to PTI.The IPO will also include an offer for sale (OFS) of 6.38 crore equity shares by existing shareholders. Promoter entity Starfish I Pte Ltd, along with investors Nexus, Wonderful Star Pte. Ltd, Kenneth Stuart Glass, Jason Ashok Kothari, Priyanka Shreevar Kheruka, Rupen Investment and Industries and Centaurus Trading and Investments will waive some of their assets through the OFS, PTI reported.Promoters and founders Kunal Bahl and Rohit Bansal, who together hold 34.63 percent stake in AceVector, will not participate in the sale offer. This includes Bahl’s individual stake of approximately 12.42 percent, Bansal’s 11.14 percent and a further 11.07 percent through their joint entity, B2 Professional Services LLP. Another promoter, Starfish, which owns 30.68 percent stake in the company, will divest part of its stake.The company plans to use the proceeds from the new issue to strengthen its technology infrastructure, support marketing and business promotion for Snapdeal, pursue inorganic growth through acquisitions and meet general corporate requirements, as per the draft documents.AceVector, headquartered in Gurugram, operates Snapdeal, a value-oriented lifestyle e-commerce marketplace; Unicommerce, a SaaS platform for e-commerce; and Stellaro Brands, its omnichannel consumer brand company.On the financial front, AceVector reported an operating revenue of Rs 244 crore in the first half of FY26, up 34 percent from Rs 181 crore in the corresponding period of FY25. Adjusted EBITDA loss fell to Rs 9.2 crore from Rs 28 crore a year earlier, PTI reported.The company had started the IPO process earlier this year by filing confidential draft documents with Sebi in July and subsequently received regulatory approval in November. By choosing the confidential pre-filing route, AceVector retained the flexibility to delay the disclosure of IPO data until a later stage in the process.