AceVector Shares Debut At Rs 28.30 On BSE, Snapdeal Parent Lists At 11.56 Per Cent Discount

Mumbai: AceVector Ltd, the SoftBank-backed parent of Snapdeal, made a weak stock market debut on Monday, with shares opening around 11.5 per cent below the IPO issue price.

The digital commerce company entered trading after its Rs 420 crore initial public offering received 4.93 times subscription on the final day of bidding.

AceVector shares listed at Rs 28.30 on the BSE, a discount of 11.56 per cent to the issue price of Rs 32.

On the NSE, the stock opened at Rs 28.32, down 11.5 per cent from the offer price. The company’s market valuation stood at Rs 1,394.75 crore.

The debut meant investors who received shares at the issue price faced an opening loss of Rs 3.70 per share on the BSE and Rs 3.68 on the NSE.

These figures reflect opening prices.

Rs 420 Crore IPO Details

The AceVector IPO carried a price band of Rs 30 to Rs 32 per share. Bidding ended on Tuesday, when the offer recorded an overall subscription of 4.93 times.

The issue combined a fresh share sale worth Rs 287 crore with an offer for sale of 4.16 crore shares.

At the upper end of the price band, the offer for sale amounted to Rs 133 crore. Together, the two components made up the Rs 420 crore public issue.

Fresh Issue And Existing Share Sale

The fresh issue represents new shares issued by AceVector, while the offer for sale involves existing shares sold by shareholders.

The company’s listing brings its digital commerce ecosystem to the public market, covering online shopping, business software and consumer brands.

Snapdeal, Unicommerce And Stellaro Businesses

AceVector operates an asset-light business model across three main businesses.

Snapdeal is a value-focused lifestyle e-commerce marketplace. Unicommerce provides software services that help businesses manage e-commerce operations.

Stellaro Brands runs a consumer brands retailing business across online and offline channels, completing the group’s broader digital commerce portfolio.