AceVector files UDRHP to raise Rs 300 Cr in fresh issue; reports positive free cash flow in H1 FY26

E-commerce ecosystem firm AceVector Limited has filed an updated draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO). 

The parent company of Snapdeal, Unicommerce, which also operates Shipway, Convertway and Stellaro Brands, plans to raise up to Rs 300 crore through a fresh issue and an offer for sale of up to 6.38 crore equity shares.

AceVector’s existing shareholders, including SoftBank, Nexus and Foxconn will divest part of their stakes through the OFS. 

Importantly, the firm’s co-founders Kunal Bahl and Rohit Bansal, who own 34.63% directly and through related entities, will not sell any shares in the IPO. The Gurugram-based company had filed its draft red herring prospectus through the confidential route in July 2025. Entrackr had exclusively reported this development.

Snapdeal is a value-focused marketplace with most units priced below Rs 599 and a majority of shipments coming from non-metro cities, supported largely by lifestyle products. Its parent group also includes Unicommerce, listed independently in 2024 and offering SaaS for e-commerce operations, and Stellaro Brands, which runs the women’s ethnic wear label Rangita across online channels and 12 stores.

Ace Vector plans to utilize the proceeds from the fresh issue to strengthen Snapdeal’s technology infra, marketing and business development, pursue inorganic growth opportunities and for general corporate purposes.

In terms of financials, AceVector reported 34% year-on-year growth in revenue to Rs 244 crore in H1 FY26 from Rs 181 crore in H1 FY25. Meanwhile, the company managed to narrow its EBITDA loss by 67% to Rs 9.28 crore in H1 FY26. According to the company, it delivered a positive net operating cash flow of Rs 5.07 crore in H1 FY26.