AceVector, the parent company of e-commerce platform Snapdeal, has confidentially submitted draft documents to market regulator Sebi to raise capital via an initial public offering (IPO).
In a public announcement on Saturday, AceVector stated that it has submitted “the pre-filed draft red herring prospectus with Sebi and the stock exchanges …in relation to the proposed initial public offering of its equity shares on the main board of the stock exchanges.”
Besides Snapdeal, the Gurugram-based AceVector also runs the software-as-a-service (SaaS) platform Unicommerce and consumer brand accelerator Stellar Brands.
Unicommerce went public in 2024, and investors oversubscribed its IPO 168.32 times, reflecting an exceptional response.
Founded by Kunal Bahl and Rohit Bansal, AceVector has chosen the confidential pre-filing route, enabling it to delay public disclosure of IPO details in the draft red herring prospectus (DRHP) until the later stages. This approach is increasingly popular among Indian companies seeking greater flexibility in their IPO strategies.
In recent months, several companies—such as INOX Clean Energy, logistics player Shadowfax Technologies, stockbroker Groww, Gaja Alternative Asset Management, commerce enabler Shiprocket, Tata Capital, edtech unicorn PhysicsWallah, and Imagine Marketing, the parent of wearables brand boAt—have also opted for confidential IPO filings, reflecting a growing preference for this flexible route.
With AceVector joining the growing list of companies choosing the confidential IPO route, the trend underscores a strategic shift among Indian firms seeking flexibility and privacy in their fundraising plans. As market interest in tech-driven businesses like Snapdeal, Unicommerce, and boAt continues to rise, AceVector’s IPO could mark a significant milestone for the evolving Indian startup ecosystem.
