Source: Entrackr
AceVector Limited, the parent of Snapdeal, Unicommerce and Stellaro Brands based in Gurugram is raising ₹500 crore through an Initial Public Offering (IPO).
The filing of the Draft Red Herring Prospectus (DRHP) is at the end of completion with an expected filing in a few weeks, according to sources involved in the developments.
“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, who requested anonymity as the discussions are still confidential.
Everything About AceVector and Its Brands
AceVector has a position at the heart of the fast-growing e-commerce sector in India and operates through three major platforms:
Snapdeal: Launched in 2010, Snapdeal is focused on value e-commerce and serves customers based in smaller cities and towns. Over 80% of Snapdeal’s orders are from non-metro areas. The vast majority of products sold on the platform, a value-based shopping site, range under ₹600 and are product categories such as clothing, household goods and personal care products. Experts predict that by 2030 close to 65% of online shoppers in India will be from Tier-2 and Tier-3 cities, which aligns closely with the Snapdeal business model.
Unicommerce: This is a technology platform that provides online sellers with a comprehensive solution to manage orders, inventory, shipping, and marketing. In a highly successful IPO that was oversubscribed 168 times and went public in 2024, Unicommerce subsequently acquired Shipway, a shipping solutions provider, which will expand the business offerings.
Stellaro Brands: This platform builds affordable consumer brands. The main brand is Rangita, which sells ethnic wear for women, both online and in stores, predominantly in South India. Rangita is now also looking to expand its footprint to more cities via a range of online and offline channels.
Solid Support and Ownership
According to startup data platform TheKredible, the large investors of AceVector are SoftBank, company founders Kunal Bahl and Rohit Bansal, and Nexus Venture Partners, and their ongoing support is a strong indication of trust in AceVector’s long-term vision.
An Expanding Tech Ecosystem
AceVector is in a new grouping of Indian tech companies that are operating in ecosystems. Other popular examples are:
Zomato, which also owns Blinkit, Hyperpure, and more.
InfoEdge, which houses Naukri, Jeevansathi, 99acres, and Shiksha.
These companies are bundling a series of services under one roof, much like AceVector is with its marketplace, tech platform and brand building.
What Now?
The DRHP filing should be coming soon. The ₹500 crore IPO will enable AceVector to launch operations and fortify its position within India’s value e-commerce space.
