Snapdeal parent AceVector files updated DRHP for ₹300 cr IPO; OFS included

SoftBank-backed AceVector has filed its updated draft red herring prospectus (UDRHP) after securing approval from the Securities and Exchange Board of India (Sebi) for its initial public offering (IPO).

 

The company has opted for the confidential filing route. The IPO will comprise a fresh issue of shares worth ₹300 crore and an offer for sale (OFS) of 63.8 million shares by existing investors.

 

According to the UDRHP, AceVector plans to deploy the net proceeds towards marketing and business promotion, strengthening the technology infrastructure of its marketplace operations, and pursuing inorganic growth opportunities through acquisitions.

 

AceVector’s promoter group includes SoftBank and cofounders Kunal Bahl and Rohit Bansal. SoftBank holds about 30 per cent of the company, while Bahl and Bansal together own roughly 34 per cent. Other notable investors include Nexus Venture Partners (over 9 per cent), along with global names such as eBay, Foxconn, Temasek, Premji Invest, and RNT Associates. 

Helmed by Bahl and Bansal, AceVector operates a diversified digital commerce ecosystem comprising Snapdeal — its value-focused lifestyle marketplace; Unicommerce — an ecommerce enablement SaaS platform; and Stellaro Brands — an omnichannel consumer brands venture.

 

Snapdeal delivered 13 million units in the first half of FY26, marking a 46 per cent surge from 8.9 million units a year earlier. The platform reported revenues of Rs 544 crore in H1 FY26, with lifestyle categories — fashion, home and general merchandise, and beauty and personal care — contributing 94 per cent of its net merchandise value.

 

A report by 1Lattice estimates that India’s e-commerce market will expand at a 19.6 per cent CAGR, rising from $95.8 billion in FY25 to $234.4 billion by FY30, supported by a rapid increase in online shoppers from 300 million to 700 million.

 

AceVector has also pursued inorganic growth opportunities. In 2015, AceVector acquired Unicommerce, an ecommerce enablement SaaS platform. More recently, it acquired Shipway and Convertway. 

Inox Clean Energy pulls back draft papers after ₹5K cr pre-IPO funding 

Inox Clean Energy has temporarily withdrawn its draft papers after raising around ₹5,000 crore in a pre-IPO funding round, prompting the company to pull back its preliminary filings. However, the firm is expected to refile its IPO papers after incorporating the latest funding details in its financials. The firm had initially filed its draft red herring prospectus confidentially in July 2025, with plans to raise ₹6,000 crore through its initial public offering. However, multiple completed acquisitions as well as other ongoing large acquisitions may have led to the withdrawal.