Exclusive: AceVector to file DRHP for Rs 500 Cr IPO

E-commerce ecosystem firm AceVector Limited is in advanced stages of filing draft red herring prospectus (DRHP) to raise a Rs 500 crore through an initial public offering, sources aware of the matter told Entrackr.

Gurugram-based AceVector comprises e-commerce marketplace Snapdeal, e-commerce enablement SaaS platform Unicommerce and consumer-brands platform Stellaro Brands. 

“The proposed issue will be majority primary capital and CLSA and IIFL are likely to be the bankers for the proposed IPO,” said one of the sources requesting anonymity as talks are yet to be public.

According to startup data intelligence platform TheKredible, Softbank, Kunal Bahl, Rohit Bansal and Nexus Venture Partners are the largest shareholders of AceVector Limited. 

Started in 2010, Snapdeal targets the value e-commerce segment, with over 80% of orders from non-metro buyers. Most of its merchandise is priced below Rs 600, focusing on fashion, home, and personal care. Industry reports expect smaller towns to drive 65% of India’s e-shopping by 2030.

AceVector’s listed arm Unicommerce eSolutions provides tech solutions across order and inventory management, omnichannel retail, courier automation, and AI-led marketing. Its 2024 IPO was oversubscribed 168 times. Post listing, it acquired shipping aggregator Shipway in a stock-and-cash deal to broaden its offerings.

Stellaro Brands, another subsidiary, builds value and lifestyle brands. Its flagship label, Rangita, offers affordable everyday ethnic wear for women. Sold online and through retail outlets in southern India, Rangita aims to expand its omnichannel presence across key markets nationwide.

Food-tech ecosystem Eternal (Zomato, Blinkit, Hyperpure, District), classifieds-tech ecosystem Infoedge (Naukri, Jeevansathi, 99 Acres, Shiksha) are other examples of Indian new-age tech ecosystems that have grown and listed in India.