AceVector Ltd, the parent company of Snapdeal, has refiled its Updated Draft Red Herring Prospectus (UDRHP) with SEBI for its proposed Initial Public Offering (IPO). Backed by global investor SoftBank, the company aims to raise ₹300 crore through a fresh issue of shares, alongside a significant Offer for Sale (OFS) by existing shareholders.

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AceVector plans to allocate the proceeds from the ₹300 crore fresh issue towards strengthening its technology infrastructure, accelerating marketing and brand-building initiatives for Snapdeal, pursuing inorganic growth through acquisitions, and meeting various general corporate needs. These investments are expected to enhance operational scalability and support long-term performance across its ecosystem.

The IPO also includes an Offer for Sale (OFS) of 6.38 crore equity shares by existing shareholders. Participants in the OFS include Starfish I Pte Ltd, Nexus, Wonderful Star Pte Ltd, Kenneth Stuart Glass, Jason Ashok Kothari, Priyanka Shreevar Kheruka, Rupen Investment and Industries, and Centaurus Trading and Investments. Through this offering, shareholders have the opportunity to partially monetise their holdings as the company prepares for public listing.

Promoters and co-founders Kunal Bahl and Rohit Bansal will not take part in the OFS. Together, they hold 34.63% of the company, including individual stakes and shares held through their joint entity, B2 Professional Services LLP. Their decision to retain their complete shareholding reflects confidence in AceVector’s strategic direction and future prospects. In contrast, promoter entity Starfish, which owns 30.68%, will divest part of its stake through the OFS.

Headquartered in Gurugram, AceVector manages a diverse digital commerce portfolio. Snapdeal, its core marketplace, focuses on value-conscious consumers across India with a strong emphasis on lifestyle categories. Unicommerce, the company’s SaaS-based e-commerce enablement platform, provides solutions for inventory management, warehouse operations, and omnichannel retail integration. Additionally, Stellaro Brands manages AceVector’s omnichannel consumer brands, expanding its reach across lifestyle and retail categories.

AceVector’s financial results show substantial improvement. The company reported ₹244 crore in operating revenue in the first half of FY26, marking a 34% increase from ₹181 crore in the same period of FY25. Its adjusted EBITDA loss narrowed to ₹9.2 crore, compared to ₹28 crore a year earlier. These results highlight improved operational efficiency and stronger business momentum across its verticals.

AceVector initiated the IPO process earlier by filing confidential draft papers with SEBI in July. After receiving regulatory approval in November, the company formally submitted its updated draft prospectus. The confidential pre-filing route allowed AceVector to refine the offer structure before public disclosure.

The updated draft filing marks a significant milestone in AceVector’s journey toward public listing. With stronger financial performance, a clear fund utilisation strategy, and a diversified business ecosystem, the company is positioning itself for sustained growth within India’s expanding digital commerce sector.