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AceVector Limited, the parent company of Snapdeal and Unicommerce, has submitted an updated draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) for its planned initial public offering (IPO).
The e-commerce ecosystem firm aims to raise up to INR 300 crore through a fresh issue along with an offer for sale of as many as 6.38 crore equity shares.
Several existing investors will take part in the offer for sale. SoftBank, Nexus Venture Partners and Foxconn are among the participating shareholders, while certain individual investors will also offload part of their stakes. Other major stakeholders in the company include Temasek, eBay and Premji Invest.
The company's co-founders Kunal Bahl and Rohit Bansal, who hold a combined 34.63 percent directly and through related entities, will retain their shareholding and will not sell any portion in the public issue.
The Gurugram-based company had first filed its draft prospectus through the confidential route in July 2025.
AceVector operates three core businesses. Snapdeal is a value focused online marketplace. Unicommerce provides software as a service solutions for e-commerce operations and was listed independently in 2024. Stellaro Brands is a consumer brands portfolio that includes the women's ethnic wear label Rangita which is present online and through 12 retail stores.
The filing notes that while these businesses run independently, they benefit from shared infrastructure, strategic guidance and complementary strengths.
Snapdeal continues to focus on the value segment with most products priced below INR 599. A majority of its shipments come from non metro cities and are driven mainly by lifestyle categories.
The company plans to use the proceeds from the fresh issue to strengthen Snapdeal's technology infrastructure, enhance marketing and business development efforts, explore inorganic growth opportunities and cover general corporate requirements.
AceVector had previously taken its SaaS platform Unicommerce public in 2024. That issue saw strong investor interest with subscriptions reaching nearly 168 times.
For the financial year 2025, AceVector reported operating revenue of INR 395 crore and an adjusted EBITDA loss of INR 39 crore. In the first half of the financial year 2026, operating revenue increased by 34 percent year on year to INR 244 crore and the adjusted EBITDA loss narrowed to INR 9.2 crore.
The company also recorded a positive net operating cash flow of INR 5.07 crore during the period.IIFL Capital Services and CLSA India are acting as the book running lead managers for the proposed public offer.
This article was originally published by the 
