Acevector IPO

Mainboard • Equity • Fresh capital cum OFS

LISTEDMAINBOARDEquity

Acevector

Price band

₹30 – ₹32

Lot size

468 shares

Min investment

₹14,976

Issue size

₹420 Cr

About the company

Acevector Ltd was started in 2007. It runs what it calls an asset-light digital commerce ecosystem through its subsidiaries, spanning data, technology and AI driven businesses. Asset light means it operates the platforms and brands rather than owning warehouses and inventory at scale. The group has three parts. Snapdeal is a value driven lifestyle e-commerce marketplace selling affordable merchandise across lifestyle categories. Uniware, Convertway and Shipway are software-as-a-service products that help other businesses run their e-commerce operations end to end. Stellaro Brands is an omnichannel portfolio of value focused consumer brands. In FY2026 Snapdeal served customers across 18,972 pin codes in India. Its focus is on middle income, value conscious shoppers in Tier 2 and smaller cities, a segment the company describes as a large and largely untapped part of the value e-commerce market.

Acevector Ltd runs an asset-light digital commerce group built around Snapdeal, the value-focused marketplace, alongside the Uniware, Convertway and Shipway e-commerce SaaS platforms and the Stellaro Brands consumer portfolio. In FY2026 Snapdeal served customers across 18,972 pin codes.

IPO details

Issue price: ₹32
Price band: ₹30 – ₹32
Face value: ₹1
Lot size: 468
Min investment: ₹14,976
Issue size: ₹420 Cr
Sale type: Fresh capital cum OFS
Listing on: BSE, NSE
BSE scrip code: 8002
NSE symbol: ACEVECTOR.NS

Lot size & investment by category

APPLICATION	LOTS	SHARES	AMOUNT
Retail (Min)	1	468	₹14,976
Retail (Max)	13	6,084	₹1,94,688
S-HNI (Min)	14	6,552	₹2,09,664
B-HNI (Min)	67	31,356	₹10,03,392

Investor reservation

CATEGORY	RESERVED
QIB	9,84,37,500 shares (75.00% of the Offer)
NII	1,96,87,500 shares (15.00% of the Offer)
Retail	1,31,25,000 shares (10.00% of the Offer)

Objects of the issue

1Funding a portion of the marketing and business promotion expense of the Marketplace business of Company132.00

2Funding the technology infrastructure costs of the Marketplace business of Company50.00

3Funding inorganic growth through acquisitions and general corporate purpose

Financials

Rs. Crore • restated

METRIC	31 Mar 2026	31 Mar 2025	31 Mar 2024
Assets	575.28	558.09	410.50
Total Income	537.67	406.77	384.74
Profit After Tax	-45.51	-126.31	-51.30
EBITDA	-22.17	-107.79	-35.77
NET Worth	102.08	126.33	-142.09
Reserves and Surplus	56.99	86.59	-181.83
Total Borrowing		0.45

Key performance indicators

P/E Ratio

-ve

EPS (₹)

-ve

RoNW

-59.54%

NAV (₹)

2.21

✓ Strengths

• Losses have narrowed sharply. The loss after tax came down from Rs 126.31 crore in FY2025 to Rs 45.51 crore in FY2026.

• The operating loss narrowed even faster, with EBITDA improving from minus Rs 107.79 crore to minus Rs 22.17 crore, so the business is close to breaking even at the operating level.

• Sales grew 32% in FY2026, from Rs 406.77 crore to Rs 537.67 crore.

• Net worth has been restored from minus Rs 142.09 crore in FY2024 to a positive Rs 102.08 crore.

• The company carries almost no debt.

• The group is diversified across three different businesses, a marketplace, e-commerce software and consumer brands, rather than depending on the marketplace alone.

• The SaaS products give recurring subscription income, which is steadier than marketplace commissions.

• Snapdeal reaches 18,972 pin codes and targets value conscious buyers in Tier 2 and smaller cities, where the larger platforms are less dominant.

⚠ Risks

• The company is still loss-making. It lost Rs 45.51 crore in FY2026, Rs 126.31 crore in FY2025 and Rs 51.30 crore in FY2024, so there is no year of profit to point to.

• There is no P/E to judge the issue on. EPS is negative and return on net worth is minus 59.54%.

• Net asset value is only Rs 2.21 per share against a price band of Rs 30 to Rs 32, so the Rs 1,741.40 crore market capitalisation rests entirely on future profits rather than on what the company owns today.

• Rs 132 crore of the issue money goes into marketing and business promotion for the marketplace. That is a running cost that will have to be spent again, not an asset.

• Value e-commerce is fiercely competitive, with Amazon, Flipkart and Meesho all far better funded and chasing the same buyers.

• Net worth has swung wildly, from minus Rs 142.09 crore to plus Rs 126.33 crore and then down to Rs 102.08 crore, so the capital base is not yet stable.

• Promoter holding falls from 64.11% to 49.96% after the issue, leaving the promoters just below a half share.

• This is a fresh issue combined with an offer for sale, so a part of the money goes to the selling shareholders and not to the company.

Promoters & holding

Kunal Bahl, Rohit Kumar Bansal and Starfish I Pte.Ltd

Pre-issue promoter holding

64.11%

Post-issue promoter holding

49.96%

Promoters hold 64.11% before the issue and will hold 49.96% after it.

Data refreshed 07 Nov 2026, 04:51 pm IST. GMP is unofficial market sentiment, not investment advice.