AceVector sets Rs30-32 IPO band as FY26 revenue rises 29%
Snapdeal parent AceVector plans a Rs287 crore fresh issue alongside an offer for sale, with anchor bidding slated for September 24. FY26 operating revenue rose 29% to Rs510.38 crore, while adjusted operating free cash flow turned positive at Rs10.82 crore.
What happened
Snapdeal parent AceVector will launch an IPO priced at Rs 30-32 per share, while retaining its planned Rs 287 crore fresh issue. FY26 revenue rose 29% and free
Key facts
- IPO price band: Rs 30-32 per share
- IPO size: $43.84 million
- Fresh issue: up to Rs 287 crore
- OFS: up to 4.15 crore shares
- Founders' combined stake: 33.99%
- SoftBank stake: 30.11%
- FY26 operating revenue: Rs 510.38 crore, up 29% YoY
- FY26 adjusted EBITDA loss: Rs 15.94 crore, down 59%
- FY26 adjusted operating free cash flow: Rs 10.82 crore
- India e-commerce market projected at $234.4 billion by FY30
Why this matters
AceVector’s public-market entry could provide fresh capital and acquisition currency to expand its value-commerce and SaaS portfolio, while the improving financial profile may elevate it as a partner or competitor.
What to watch
- Anchor-book quality and subscription levels around the September 24 anchor process.
- IPO valuation relative to revenue, gross merchandise value and listed Indian internet/e-commerce peers.
- Fresh-issue versus offer-for-sale split, promoter/investor lockups and any reduction in selling shareholder participation.
- Quarterly evidence that positive adjusted operating free cash flow converts into reported cash generation.
- Customer acquisition cost, repeat purchase rate, order frequency, seller count and marketplace take-rate trends.
- Competitive pricing, shipping subsidies and user-growth spending by Meesho, Flipkart and Amazon.
- Contribution of SaaS and seller-services revenue to gross margin and overall profitability.
- Publish updated IPO filings detailing use of Rs287 crore fresh proceeds, cohort metrics, marketplace take rate and segment-level profitability.
- Market the free-cash-flow turnaround to anchors while emphasizing revenue durability, seller growth and SaaS monetization.
- Prioritize capital allocation toward logistics efficiency, repeat-user retention and higher-margin seller tools rather than broad discount subsidies.
- Set post-listing targets for adjusted EBITDA, operating free cash flow and revenue mix to demonstrate that the FY26 improvement is sustainable.