AceVector’s Rs 420 crore IPO comprised Rs 287 crore in fresh capital and a Rs 133 crore offer-for-sale (OFS) component in which investors, including SoftBank, Nexus Venture Partners, and Foxconn, sold their shares.
SoftBank sold stock worth Rs 88 crore and still owns 20.3% of the company. At the closing price, its remaining holding is worth almost Rs 288 crore. Similarly, Nexus Venture Partner still holds 6.39% stake worth Rs 90.7 crore.
Foxconn’s investment arm, FIH Business Global Pte Ltd, has 2.81% stake worth Rs 39 crore in AceVector.
Founders Kunal Bahl and Rohit Bansal, who together own around 28.52% of AceVector directly and through related entities, did not sell any shares in the IPO.
Snapdeal was moved under the AceVector umbrella in 2022. The parent company also houses ecommerce enablement software firm Unicommerce and house-of-brands company Stellaro Brands. Unicommerce went public in 2024 through a Rs 277-crore IPO.
Almost half the IPO proceeds will be allocated towards marketing and promotion of Snapdeal as AceVector seeks to revive growth at the ecommerce marketplace. Snapdeal, once a major rival to Flipkart, has since lost significant ground to larger players.
AceVector had filed confidentially for its IPO in July 2025 and received approval from the Securities and Exchange Board of India (Sebi) in November. The company filed an updated draft prospectus in December.