Chandigarh, Dec 8: SoftBank-backed digital commerce platform AceVector Limited has filed its updated draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), seeking to raise ₹300 crore through a fresh issue of shares. The IPO will also include an Offer for Sale (OFS) of up to 63.87 million equity shares by existing shareholders.
Founders and promoters Kunal Bahl and Rohit Bansal, who together hold 34.63 per cent equity in the company, will not be part of the OFS. Their combined holding includes Bahl’s 12.42 per cent stake, Bansal’s 11.14 per cent, and another 11.07 per cent held via their jointly owned firm, B2 Professional Services LLP. SoftBank’s investment arm Starfish, which owns a 30.68 per cent stake in AceVector, will partially dilute its holding through the share sale.
Headquartered in Gurugram, AceVector operates a diversified digital commerce ecosystem comprising value-focused e-commerce marketplace Snapdeal, e-commerce enablement SaaS platform Unicommerce, and omnichannel consumer brands arm Stellaro Brands.
Snapdeal ranks among India’s top two pure-play value marketplace platforms, while Unicommerce is the country’s largest transaction processing SaaS platform for e-commerce. Stellaro Brands focuses on building and scaling consumer brands. The company noted that while the three verticals operate independently, they are strategically aligned with diversified revenue streams across key segments of India’s growing e-commerce landscape.
The proceeds from the fresh issue will be primarily used to strengthen Snapdeal’s technology infrastructure, boost marketing and brand promotion, fund acquisitions, and meet general corporate requirements.
AceVector also highlighted its acquisition-led growth strategy, citing successful integrations such as Unicommerce and Shipway. It remains the largest shareholder in Unicommerce, which debuted on the stock exchanges in 2024 with an IPO that was oversubscribed nearly 168 times.
India’s e-commerce market continues to expand at a rapid pace and is projected to grow at a 19.6 per cent CAGR, from USD 95.8 billion in FY25 to USD 234.4 billion by FY30, driven by deeper internet penetration, wider digital payments adoption, and rising demand from non-metro regions.