AcevectorIPO Review — Financials, Valuation & Peers
A data-only look at the Acevector IPO: restated financials, valuation ratios, the RHP peer group and third-party analyst views. ipostation does not rate IPOs — nothing here is a recommendation.
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.
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.
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%
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.
Analysis in brief
Anchor book
The anchor round of the Acevector IPO drew 14 institutional investors committing a combined ₹189 crore. Anchor investors are institutions allotted shares at the issue price a day before bidding opens, in exchange for a mandatory post-listing lock-in — their names and cheque sizes are disclosed, which is why the anchor book is read as an institutional signal. The largest allocations went to NEGEN UNDISCOVERED VALUE FUND (₹40 crore), SINGULARITY GROWTH OPPORTUNITIES FUND II (₹27 crore) and TURNAROUND OPPORTUNITIES FUND (₹20 crore). Investor categories represented include Other and FII/FPI. The lock-in on half the anchor shares ends on 29 Oct 2026, with the remainder locked until 28 Dec 2026.
Analyst view tally
For the Acevector IPO, we track the published view of 1 reviewer, Capital Market among them. Of the 1 with a stated verdict, 1 says "Avoid". These are the views of the named reviewers, reproduced as published — they are not ipostation's recommendation, and this page does not rate the issue.
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.
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.
Frequently asked questions
- 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%.
- 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.