AceVector IPO plans have moved a step forward as SoftBank-backed digital commerce ecosystem AceVector Limited has filed an updated Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI).
The proposed public issue includes a fresh issue of shares worth ₹300 crore, along with an Offer for Sale (OFS) of up to 63.87 million equity shares by certain existing shareholders.
Under the AceVector IPO, promoters and founders Kunal Bahl and Rohit Bansal will not participate in the Offer for Sale.
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Together, they hold a 34.63% stake in the company, comprising Bahl’s individual holding of about 12.42%, Bansal’s individual holding of around 11.14%, and an additional 11.07% held through their jointly owned entity, B2 Professional Services LLP.
Meanwhile, SoftBank-owned Starfish, which holds a 30.68% stake in AceVector, will partially divest its holding through the OFS.
AceVector IPO and Its Digital Commerce Ecosystem
As outlined in the AceVector IPO filing, the Gurugram-based company operates a diversified digital commerce ecosystem consisting of three key businesses: value-focused e-commerce marketplace Snapdeal, e-commerce enablement SaaS platform Unicommerce, and omnichannel consumer brands arm Stellaro Brands.
Snapdeal is positioned among the top two pure-play value marketplace platforms in India. Unicommerce is the country’s largest e-commerce enablement SaaS platform in the transaction processing layer, while Stellaro Brands focuses on incubating and scaling consumer brands.
Although strategically aligned, these businesses operate independently, with diversified revenue streams and distinct market focus areas across India’s fast-growing e-commerce sector.
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AceVector IPO Proceeds and Growth Strategy
According to the updated DRHP, proceeds from the AceVector IPO will be utilised to fund technology infrastructure costs, marketing and business promotion expenses for Snapdeal, inorganic growth through acquisitions, and general corporate purposes.
AceVector has highlighted its track record of acquiring and scaling businesses across the e-commerce value chain, including Unicommerce and Shipway.
The company has indicated that it intends to continue pursuing inorganic growth opportunities through strategic mergers and acquisitions. AceVector is also the largest shareholder in Unicommerce, which was listed in 2024 following an IPO that was oversubscribed nearly 168.32 times.
AceVector IPO Amid Rapid Growth in India’s E-commerce Market
The AceVector IPO comes at a time when India’s e-commerce market is witnessing strong expansion.
The market is projected to grow at a compound annual growth rate (CAGR) of 19.6%, from US$ 95.8 billion in FY 2025 to US$ 234.4 billion by FY 2030, driven by increasing internet penetration, rising adoption of digital payments, and growing consumer demand beyond metro cities.
