Snapdeal parent company AceVector gets SEBI approval for IPO

AceVector Limited, the parent company of Snapdeal, Unicommerce and Stellaro Brands, has received approval from the securities and exchange board of India (SEBI) for its initial public offering (IPO).

The Gurugram based company had filed its draft red herring prospectus (DRHP) through the confidential route in July 2025, a method that allows companies to keep early details private and later revise the size of the fresh issue before submitting an updated draft.

The public offering will include a fresh issue of shares along with an offer for sale by existing investors. Major shareholders such as SoftBank, Nexus Venture Partners and the cofounders Kunal Bahl and Rohit Bansal are expected to participate in the sale. According to people familiar with the matter, IIFL and CLSA are working with the company as the book running lead managers.

AceVector operates a group of businesses that together shape its broader commerce strategy. Snapdeal, once among India’s largest horizontal marketplaces, has rebuilt itself as a platform for value conscious shoppers. According to the reports, the company said that more than 80% of its orders are priced below Rs 599, and it recorded a 60% rise in festive season sales during September and October 2025, driven largely by value fashion.

Unicommerce, the software based commerce enablement platform where AceVector holds more than 28%, is already a listed entity. It serves over seven thousand five hundred merchants across India and overseas. The company reported annual recurring revenue of about Rs 200 crore in the second quarter of FY26, a 75% increase over FY25. It also runs Shipway and Convertway, expanding its role in ecommerce operations.

Stellaro Brands, AceVector’s consumer labels arm, is increasing its presence in southern markets through brands like Rangita.

AceVector reported revenue of about Rs 380 crore in FY24 with an adjusted EBITDA loss of Rs 16 crore.

The approval from SEBI places the company alongside other firms such as Boat, Wakefit, Shadowfax, Curefoods, Shiprocket, Milky Mist and Capillary Technologies that have recently received clearance to go public.