AceVector IPO
AceVector IPO Details
-
Open Date
25 Sep 2026
-
Close Date
29 Sep 2026
- IPO Price Range
₹ 30 to ₹32
- IPO Size
₹ 420.00 Cr
AceVector IPO Timeline
Last Updated: 23 September 2026 1:43 PM by 5paisa
AceVector Limited operates an asset-light digital commerce ecosystem spanning value-focused e-commerce, e-commerce enablement software and consumer brands. Its three principal businesses are Snapdeal, Unicommerce and Stellaro Brands.
Snapdeal is a value-focused lifestyle e-commerce marketplace operating on a zero-inventory model. It offers products across categories such as fashion, home and general merchandise, beauty and personal care, and served customers across 18,972 pin codes in India during FY26. Unicommerce provides e-commerce enablement SaaS solutions through platforms including Uniware, Shipway and Convertway, covering order processing, inventory, warehousing, logistics, returns and marketing automation. It served 8,261 clients as of 31 March 2026. Stellaro Brands develops value-oriented consumer brands, including the women's ethnic-wear brand Rangita, through online and omnichannel distribution.
Established in: 2007
Joint Managing Directors: Kunal Bahl and Rohit Kumar Bansal
Peers:
| Metric | AceVector Limited | FSN E-Commerce Ventures Limited | Brainbees Solutions Limited | Meesho Limited |
|---|---|---|---|---|
| Face Value (₹ per share) | 1 | 1 | 2 | 1 |
| Revenue from Operations (₹ Cr) | 510.38 | 10022.35 | 8547.94 | 12626.35 |
| Basic EPS (₹) | (1.32) | 0.70 | (2.90) | (3.11) |
| P/E (x) | NA | 462.50 | NA | NA |
| RoNW (%) | (59.54%) | 13.87% | (2.91%) | (30.95%) |
| NAV Per Share (₹) | 2.21 | 5.00 | 90.71 | 9.25 |
AceVector Objectives
1. Funding a portion of the marketing and business promotion expenses of the Marketplace business.
2. Funding technology infrastructure costs of the Marketplace business.
3. Funding inorganic growth through acquisitions.
4. General corporate purposes.
AceVector IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹420.00 Cr* |
| Offer For Sale | ₹133.00 Cr* |
| Fresh Issue | ₹287.00 Cr |
AceVector IPO Lot Size
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 468 | 14040 |
| Retail (Max) | 13 | 6084 | 194688 |
| S-HNI (Min) | 14 | 6552 | 196560 |
| S-HNI (Max) | 66 | 30888 | 988416 |
| HNI (Min) | 67 | 31356 | 940680 |
| Particulars (In ₹ Crores) | FY24 | FY25 | FY26 |
| Revenue | 379.76 | 395.02 | 510.38 |
| EBITDA | (35.77) | (107.79) | (22.17) |
| PAT | (51.30) | (126.31) | (45.51) |
| Particulars (In ₹ Crores) | FY24 | FY25 | FY26 |
| Total Assets | 410.50 | 558.09 | 575.28 |
| Share Capital | 39.74 | 39.75 | 45.45 |
| Total Liabilities | 532.86 | 365.20 | – |
| Particulars (In ₹ Crores) | FY24 | FY25 | FY26 |
| Net Cash Generated From / (Used In) Operating Activities | (54.85) | (27.35) | – |
| Net Cash Generated From / (Used In) Investing Activities | (32.68) | (103.04) | – |
| Net Cash Generated From / (Used In) Financing Activities | 69.30 | 126.93 | – |
| Net Increase / (Decrease) In Cash And Cash Equivalents | (18.22) | (3.46) | – |
Strengths
1. AceVector operates across three complementary digital-commerce businesses: the Snapdeal marketplace, Unicommerce's e-commerce enablement SaaS platforms and Stellaro Brands' consumer-brand operations.
2. Snapdeal follows an asset-light, zero-inventory marketplace model and reached customers across 18,972 Indian pin codes in FY26.
3. Unicommerce provides technology across order management, warehousing, inventory, logistics, returns and marketing automation, serving 8,261 clients as of 31 March 2026.
4. Revenue from operations increased by 29.2% in FY26 to ₹510.38 crore, while the EBITDA and PAT losses narrowed materially from FY25.
5. The group has built shared strategic, technology and operating capabilities while retaining distinct business platforms across B2C and B2B commerce.
Weaknesses
1. AceVector remained loss-making in FY26, reporting a PAT loss of ₹45.51 crore and an EBITDA loss of ₹22.17 crore.
2. FY26 RoNW remained negative at 59.54%, reflecting the continuing impact of losses on shareholder returns.
3. Profitability depends on further operating leverage and the ability to grow marketplace activity without proportionately increasing marketing, logistics and technology expenditure.
4. The Marketplace business continues to require material promotional spending; ₹132 crore of fresh IPO proceeds is specifically earmarked for marketing and business promotion.
5. The company has historically reported negative operating cash flows, although its disclosed adjusted free cash flow from operations turned positive in FY26.
Opportunities
1. Continued expansion of e-commerce among value-conscious customers in Tier 2 and smaller cities can increase Snapdeal's addressable customer base.
2. Unicommerce can expand its SaaS client base and cross-sell order management, logistics, warehouse, returns and marketing-automation products.
3. The consumer-brand vertical provides scope to expand Rangita and other value-oriented brands across digital and physical channels.
4. ₹50 crore of fresh proceeds is earmarked for Marketplace technology infrastructure, supporting product, platform and operational development.
5. A portion of the fresh proceeds can be deployed for inorganic acquisitions across the digital-commerce ecosystem.
Threats
1. Snapdeal operates in a highly competitive Indian e-commerce market against larger and well-funded marketplaces and value-commerce platforms.
2. Competitive discounting and higher customer-acquisition expenditure could put pressure on margins and delay profitability.
3. Technology outages, cybersecurity incidents, data-privacy issues or failure to keep pace with platform innovation could affect the group's digital businesses.
4. Regulatory changes relating to e-commerce, digital platforms, consumer protection and data governance could increase compliance requirements.
5. Unicommerce faces competition from other commerce-software providers as well as technology capabilities developed internally by large retailers and marketplaces.
1. Revenue from operations rose from ₹395.02 crore in FY25 to ₹510.38 crore in FY26, representing approximately 29.2% year-on-year growth.
2. The PAT loss narrowed from ₹126.31 crore in FY25 to ₹45.51 crore in FY26, while the EBITDA loss reduced to ₹22.17 crore.
3. The business provides exposure to three areas of digital commerce through Snapdeal, Unicommerce and Stellaro Brands rather than relying on a single operating model.
4. Snapdeal's reach across 18,972 pin codes and Unicommerce's 8,261-client base provide established operating scale in the Marketplace and SaaS businesses respectively.
5. Fresh IPO proceeds include ₹132 crore for Marketplace marketing and business promotion and ₹50 crore for technology infrastructure, alongside funding for acquisitions and general corporate purposes.
India's digital-commerce ecosystem is expanding as internet access, digital payments, logistics networks and online purchasing spread further beyond major metropolitan areas. The industry report incorporated in AceVector's offer documents estimated India's e-commerce market at approximately US$95.8 billion in FY25 and projected it to reach around US$234.4 billion by FY30, implying a CAGR of about 19.6%.
AceVector participates in this market through multiple layers of the commerce value chain. Snapdeal targets value-conscious consumers, particularly outside major metros; Unicommerce provides the software infrastructure used by brands and retailers to manage online commerce; and Stellaro Brands gives the group direct exposure to value-oriented consumer brands. In FY26, Snapdeal reached 18,972 pin codes, while Unicommerce's client base stood at 8,261. Growth potential therefore depends not only on overall online-retail expansion, but also on AceVector's ability to convert higher marketplace activity, SaaS adoption and brand expansion into sustainable operating profitability.
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FAQs
AceVector IPO opens from 25 September 2026 to 29 September 2026.
The AceVector IPO aggregates to approximately ₹420 crore.
The price band of AceVector IPO is fixed at ₹30 to ₹32 per share.
1. Login to your 5paisa demat account and select the issue in the current IPO section.
2. Enter the number of lots and the price at which you wish to apply for the AceVector IPO.
3. Enter your UPI ID and click on submit. Your bid will then be placed with the exchange.
4. You will receive a mandate notification to block funds in your UPI app.
The minimum lot size is 468 shares. The minimum investment is approximately ₹14,040 at the floor price of ₹30 per share.
The basis of allotment for the AceVector IPO is expected to be finalised on 30 September 2026.
The AceVector IPO is tentatively scheduled to list on BSE and NSE on 5 October 2026.
IIFL Capital Services Limited, CLSA India Private Limited and Systematix Corporate Services Limited are the book-running lead managers for the AceVector IPO.
1. Funding a portion of the marketing and business promotion expenses of the Marketplace business.
2. Funding technology infrastructure costs of the Marketplace business.
3. Funding inorganic growth through acquisitions.
4. General corporate purposes.