Acevector IPO
Grey Market Premium (GMP)
GMP applies before listing only. This IPO has listed — see Listing Performance below for the actual debut.
Subscription Status
| Category | Subscription |
|---|---|
| QIB | 3.42x |
| NII | 8.53x |
| sNII (₹2L–₹10L) | 6.94x |
| bNII (above ₹10L) | 9.33x |
| Retail (RII) | 4.83x |
| Total | 5.07x |
Bidding day 5 · final figures at close of bidding: 5 Oct 2026, 6:30 pm IST
IPO Details
- Open Date
- 25 Sept 2026
- Close Date
- 29 Sept 2026
- Listing Date
- 5 Oct 2026
- Face Value
- ₹1
- Fresh Issue
- ₹287 Cr
- OFS
- ₹133 Cr
- Listing On
- NSE, BSE
- Registrar
- —
The fresh issue is money for the company; the OFS goes to selling shareholders. Fresh issue vs offer for sale, explained
Lot Size & Application Amounts
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 468 | ₹14,976 |
| Retail (Max) | 14 | 6,552 | ₹2,09,664 |
| B-HNI (Min) | 67 | 31,356 | ₹10,03,392 |
Issue Reservation
| Investor category | Shares offered | % of issue |
|---|---|---|
| Anchor | 5,90,62,500 | 45% |
| QIB (ex-anchor) | 3,93,75,000 | 30% |
| NII | 1,96,87,500 | 15% |
| — sNII (< ₹10L) | 65,62,500 | 5% |
| — bNII (> ₹10L) | 1,31,25,000 | 10% |
| Retail | 1,31,25,000 | 10% |
| Total | 13,12,50,000 | 100% |
The anchor portion is carved out of the QIB quota. Percentages are of the total shares offered.
Financials (₹ Cr)
| Period Ended | Revenue | PAT | EBITDA | Net Worth | Total Assets | Borrowings | EPS (₹) |
|---|---|---|---|---|---|---|---|
| FY 2024 | 384.74 | -51.3 | -35.77 | -142.09 | 410.5 | — | — |
| FY 2025 | 406.77 | -126.31 | -107.79 | 126.33 | 558.09 | 0.45 | — |
| FY 2026 | 537.67 | -45.51 | -22.17 | 102.08 | 575.28 | — | -1 |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March.
KPIs & Valuation
- P/E (pre-issue)
- -32x
- P/E (post-issue)
- -38.1x
- RoNW
- -59.54%
- EPS (pre-issue)
- ₹-1
- EPS (post-issue)
- ₹-0.84
- P/BV
- 14.48x
- NAV / share
- ₹2.21
- Market Cap
- ₹1,741.4 Cr
As of 31 Mar 2026 (latest reported period in the offer document). Market cap is computed on a post-issue basis at the upper price band.
Objects of the Issue
| Purpose | Est. Amount |
|---|---|
| Funding a portion of the marketing and business promotion expense of the Marketplace business of Company | ₹132 Cr |
| Funding the technology infrastructure costs of the Marketplace business of Company | ₹50 Cr |
| Funding inorganic growth through acquisitions and general corporate purpose | ₹70.92 Cr |
| Issue Expenses | ₹49.86 Cr |
Net-proceeds utilisation as disclosed in the offer document.
Issue Expenses
| Purpose | Est. Amount |
|---|---|
| BRLMs fees and commissions (including underwriting commission, brokerage and selling commission | ₹20.12 Cr |
| Commission/processing fee for SCSBs and Bankers to the Offer and fee payable to the Sponsor Banks for Bids made by RIBs using UPI. Brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | ₹0.69 Cr |
| Fees payable to the Registrar to the Offer | ₹0.03 Cr |
| Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses | ₹2.05 Cr |
| Printing and stationery | ₹0.42 Cr |
| Advertising and marketing expenses for the Offer | ₹1.78 Cr |
| Fee payable to legal counsels | ₹10.25 Cr |
| Miscellaneous | ₹14.53 Cr |
Promoters & Shareholding
Promoters: <p>Kunal Bahl, Rohit Kumar Bansal, Starfish I Pte.Ltd.</p>
- Holding (pre-issue)
- 64.11%
- Holding (post-issue)
- 49.96%
- Dilution
- 14.15%
Documents
Anchor Investors
| Investor | Category | Shares | Price | Amount ₹Cr | Allocation |
|---|---|---|---|---|---|
| NEGEN UNDISCOVERED VALUE FUND | Other | 1,24,99,812 | ₹32 | 40 | 21.16% |
| SINGULARITY GROWTH OPPORTUNITIES FUND II | Other | 84,37,104 | ₹32 | 27 | 14.29% |
| TURNAROUND OPPORTUNITIES FUND | Other | 62,49,672 | ₹32 | 20 | 10.58% |
| LC PHAROS MULTI STRATEGY FUND VCC-LC PHAROS MULTI STRATEGY FUND SF1 | Other | 46,87,488 | ₹32 | 15 | 7.94% |
| ALCHEMY LONG TERM VENTURES FUND-SERIES III | Other | 46,87,488 | ₹32 | 15 | 7.94% |
| MAVIRA GROWTH OPPORTUNITIES FUND | Other | 46,87,488 | ₹32 | 15 | 7.94% |
| HELIOS MID CAP FUND | Other | 34,99,704 | ₹32 | 11.2 | 5.93% |
| TAURUS ETHICAL FUND | Other | 31,25,304 | ₹32 | 10 | 5.29% |
| HELIOS SMALL CAP FUND | Other | 27,49,968 | ₹32 | 8.8 | 4.66% |
| EMERGE CAPITAL OPPORTUNITIES SCHEME | Other | 21,87,864 | ₹32 | 7 | 3.7% |
| ASHIKA GLOBAL FINANCE PVT.LTD. | FII/FPI | 15,62,652 | ₹32 | 5 | 2.65% |
| SAINT CAPITAL FUND | Other | 15,62,652 | ₹32 | 5 | 2.65% |
| ASAS GLOBAL FUND INCORPORATED VCC SUB FUND | FII/FPI | 15,62,652 | ₹32 | 5 | 2.65% |
| TIMF HOLDINGS | Other | 15,62,652 | ₹32 | 5 | 2.65% |
Anchor bidding took place on 24 Sept 2026. Anchor lock-in: 50% of shares unlock on 29 Oct 2026, the remainder on 28 Dec 2026.
Peer Comparison
| Company | EPS (₹) | NAV (₹) | P/E | RoNW | P/BV |
|---|---|---|---|---|---|
| Acevector | -1.32 | 2.21 | — | -59.54% | — |
| Brainbees Solutions | -2.9 | 90.71 | — | -2.91% | 1.88x |
| FSN E-Commerce Ventures | 0.7 | 5 | 462.5x | 13.87% | 64.6x |
| Meesho | -3.11 | 9.25 | — | -30.95% | 23x |
Peer group as disclosed in the offer document, figures as of 31 Mar 2026. The issuer’s P/E is computed at the upper price band.
Lead Managers (BRLMs)
Tap a lead manager to see every IPO it has run and how those listings fared.
Broker Recommendations
| Reviewer | Verdict |
|---|---|
| Capital Market | Avoid |
Third-party analyst views on the Acevector IPO, aggregated for reference. ipostation does not rate IPOs — nothing here is investment advice.
Listing Performance
About the Acevector IPO
The Acevector mainboard IPO is open between 25 Sept 2026 and 29 Sept 2026, offered at a price band of ₹30–32 per share, and is set to list on NSE and BSE. The IPO seeks to raise ₹420 crore. Retail investors bid in lots of 468 shares, a minimum application of ₹14,976.
Issue structure
The offer combines a fresh issue of ₹287 crore with an offer for sale (OFS) of ₹133 crore by existing shareholders. Money raised through the fresh issue goes to the company for its stated objects, while OFS proceeds go to the selling shareholders rather than the business.
Objects of the issue
Per the offer document, the company intends to deploy the net proceeds primarily toward funding a portion of the marketing and business promotion expense of the marketplace business of company (₹132 crore), alongside funding inorganic growth through acquisitions and general corporate purpose (₹70.92 crore). In all, 4 objects are disclosed — the full break-up is in the table above.
Financials
In FY2026, Acevector reported revenue of ₹537.67 crore and a net loss of ₹45.51 crore. Revenue grew from ₹384.74 crore in FY2024 to ₹537.67 crore in FY2026 (+40.0%). Net worth stood at ₹102.08 crore at the end of FY2026.
Valuation
At the upper band, the issue is priced at -38.1× post-issue earnings and 14.48× book value, against a return on net worth of -59.54%. These ratios come from the offer document and are for comparison, not a recommendation.
Promoters
The promoters of the company are <p>Kunal Bahl, Rohit Kumar Bansal, Starfish I Pte.Ltd.</p>. Promoter holding stands at 64.11% before the issue and comes down to 49.96% after listing.
Grey market premium (GMP)
In the unofficial grey market, Acevector shares are quoted at a premium of ₹1 implying an expected listing around ₹33, about +3.1% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.
Subscription
The Acevector IPO was subscribed 5.07 times overall. The strongest demand came from non-institutional investors (NII) at 8.53 times, with qualified institutional buyers (QIB) at 3.42× and retail investors at 4.83×.
Listing performance
Acevector listed on 5 Oct 2026 at ₹28.3, a discount of -11.6% over the issue price of ₹32.
What to weigh
When evaluating the Acevector IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.
About Acevector
AceVector, incorporated in 2007, Acevector Ltd. operates an asset-light digital commerce ecosystem through its subsidiaries, spanning data, technology, and AI-driven businesses. Its operations include a value-focused e-commerce marketplace, e-commerce enablement SaaS platforms, and consumer brand businesses. The ecosystem comprises: (i) Snapdeal, a value-driven lifestyle e-commerce marketplace offering affordable and quality merchandise across lifestyle categories; (ii) Unicommerce, which includes Uniware, Convertway, and Shipway, providing a comprehensive suite of e-commerce enablement SaaS products that support end-to-end e-commerce operations; and (iii) Stellaro Brands, an omnichannel portfolio of value-focused consumer brands. Snapdeal served customers across 18,773 pin codes in India during the six months ended September 30, 2025, primarily catering to middle-income, value-conscious consumers in Tier 2+ and smaller cities—an important segment of the large untapped value e-commerce market. The platform has maintained an average product rating of 4.0 or higher on a 5-point scale over the last three financial years, as well as during the six-month periods ended September 30, 2025, and September 30, 2024.
Acevector — Contact Details
- Registered office
- Mezzanine Floor, A-83,, Okhla Industrial Area,, Ph-II,, Delhi, New Delhi, 110020
- Phone
- +91 1244739850
- Website
- www.acevector.com/
- Registrar (IPO queries)
- acevector.ipo@in.mpms.mufg.com
Frequently asked questions
- What is the Acevector IPO price band?
- The Acevector IPO price band is ₹30 to ₹32 per share, with a lot size of 468 shares.
- What was the Acevector IPO GMP before listing?
- The final grey market premium recorded before the Acevector IPO listed was ₹1. The IPO listed on 5 Oct 2026 at ₹28.3, -11.6% against the issue price. GMP is an unofficial figure and was never a guarantee of the listing price.
- When does the Acevector IPO open and close?
- The Acevector IPO opens on 25 Sept 2026 and closes on 29 Sept 2026.
- When is the Acevector IPO allotment and listing date?
- Allotment is expected on 30 Sept 2026. The shares are scheduled to list on 5 Oct 2026 on NSE and BSE.
- How many times was the Acevector IPO subscribed?
- The Acevector IPO was subscribed 5.07 times in total across all investor categories.
- What is the reservation split in the Acevector IPO?
- Of the total shares offered, retail investors get 10%, QIBs 30% (plus 45% anchor), non-institutional investors 15%. The full category-wise break-up is in the Issue Reservation table on this page.
- Who are the promoters of Acevector and what is their holding?
- The promoters are <p>Kunal Bahl, Rohit Kumar Bansal, Starfish I Pte.Ltd.</p>. Promoter holding is 64.11% before the issue and 49.96% after listing.
- What is the P/E ratio of the Acevector IPO?
- At the upper price band, the Acevector IPO is valued at -32× pre-issue earnings and -38.1× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the Acevector IPO?
- The net proceeds go primarily toward funding a portion of the marketing and business promotion expense of the marketplace business of company, among 4 disclosed objects. See the Objects of the Issue table for the full break-up.
- Who are the lead managers and registrar of the Acevector IPO?
- The book-running lead managers are Systematix Corporate Services Ltd., IIFL Capital Services Ltd., CLSA India Pvt.Ltd..
- Is Acevector a Mainboard or SME IPO?
- Acevector is a Mainboard IPO, listing on NSE and BSE.