As per the document, the company plans to raise up to Rs 300 crore through a fresh issue and an offer for sale of up to 6.38 crore equity shares.
As part of the OFS, Softbank and Nexus Venture Partners among others will be offloading shares. The company’s co-founders Kunal Bahl and Rohit Bansal will retain their entire stakes.
AceVector said that it plans to use the proceeds from the fresh issue for marketing and business promotion, building technology infrastructure of the marketplace business Snapdeal and for inorganic growth through acquisitions and general corporate purposes.
The company had received the go-ahead from the Securities and Exchange Board of India (Sebi) for its initial public offering (IPO), on November 17.
AceVector had filed its draft red herring prospectus (DRHP) under Sebi’s confidential route in July. Besides Snapdeal, the company also owns more than 28% of ecommerce software platform Unicommerce, which is listed independently on the exchanges. It also owns the house of brands firm Stellaro Brands.
The confidential route gives companies flexibility in determining the issue size in the initial stages, allowing them to revise the number of fresh shares to be issued by up to 50% until an updated DRHP is filed.
For the six months ended September 30, the company reported a revenue from operations of Rs 244 crore while its loss stood at Rs 22 crore. For the fiscal year ended March 31, Wakefit reported an operating revenue of Rs 395 crore. It posted a loss of Rs 126 crore.
Earlier ET reported that half a dozen new-age companies — Urban Company, Lenskart, Groww, Ather Energy, Bluestone, and Pine Labs — that have listed so far this year have collectively unlocked more than Rs 15,000 crore ($1.6 billion) in cash liquidity for their early- and late-stage investors.