AceVector Limited, the parent company of Snapdeal, is launching its IPO in September 2026 at a price band of ₹30 to ₹32 per share. The ₹420 crore AceVector IPO comprises a ₹287 crore fresh issue and a ₹133 crore offer for sale. The company operates through three businesses: Snapdeal, Unicommerce and Stellaro Brands. In FY2026, AceVector's revenue from operations grew 29.2% to ₹510.38 crore, while its restated consolidated loss narrowed to ₹45.51 crore. However, the company remained loss-making and reported negative operating cash flow.
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Table of Contents
- AceVector IPO Details
- AceVector IPO Important Dates
- AceVector IPO Issue Structure
- AceVector IPO Lot Size and Minimum Investment
- AceVector IPO Reservation
- About AceVector
- AceVector Business Model
- AceVector Industry Opportunity
- AceVector Financial Performance
- AceVector Segment-wise Performance
- AceVector Profitability and Cash Flow
- AceVector IPO: Use of Proceeds
- AceVector Promoters and Shareholding
- AceVector IPO Valuation
- AceVector IPO GMP
- Strengths of AceVector
- Risks of AceVector IPO
- AceVector IPO History
- What Investors Should Track
- AceVector IPO Key Numbers at a Glance
- Conclusion
The AceVector IPO is a mainboard, book-built issue comprising a fresh issue and an offer for sale. The IPO will open for subscription on 25 September 2026 and close on 29 September 2026. The proposed listing date is 5 October 2026, subject to the IPO process and exchange approvals.
| Particulars |
Details |
| Company |
AceVector Limited |
| IPO |
AceVector IPO |
| IPO Type |
Mainboard, Book Built |
| Face Value |
₹1 per share |
| Price Band |
₹30 to ₹32 per share |
| IPO Open Date |
25 September 2026 |
| IPO Close Date |
29 September 2026 |
| Anchor Investor Bidding |
24 September 2026 |
| Basis of Allotment |
30 September 2026 |
| Refund Initiation |
1 October 2026 |
| Demat Credit |
1 October 2026 |
| Expected Listing Date |
5 October 2026 |
| Total Issue Size |
₹420 crore |
| Fresh Issue |
₹287 crore |
| Offer for Sale |
₹133 crore |
| Total Shares Offered |
13.125 crore |
| Fresh Issue Shares |
8.96875 crore |
| OFS Shares |
4.15625 crore |
| Lot Size |
468 shares |
| Minimum Investment |
₹14,976 |
| Listing Exchanges |
NSE and BSE |
| Registrar |
MUFG Intime India |
| Book Running Lead Managers |
IIFL Capital Services, CLSA India and Systematix Corporate Services |
At the upper price band of ₹32, the total AceVector IPO issue size is approximately ₹420 crore. The offer consists of 8.96875 crore fresh equity shares and 4.15625 crore shares offered for sale by existing shareholders.
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Get all the latest updates on the AceVector IPO, including the price band, issue structure, important dates and listing details.
The AceVector IPO dates cover the anchor bidding, public subscription, allotment, refund, demat credit and proposed listing process.
| IPO Event |
Date |
| Anchor Investor Bidding |
24 September 2026 |
| IPO Opens |
25 September 2026 |
| IPO Closes |
29 September 2026 |
| Basis of Allotment |
30 September 2026 |
| Refund Initiation |
1 October 2026 |
| Credit of Shares |
1 October 2026 |
| Expected Listing |
5 October 2026 |
The IPO is scheduled to open on 25 September and close on 29 September 2026, with shares proposed to list on NSE and BSE on 5 October 2026.
The AceVector IPO has two components: a fresh issue through which the company will raise new capital and an offer for sale through which existing shareholders will sell shares.
Fresh Issue: ₹287 Crore
AceVector will issue 8,96,87,500 new equity shares through the fresh issue. The proceeds from these shares will be received by the company and used for the stated objects of the issue.
The fresh issue has been reduced from the company's earlier proposal, which contemplated a ₹300 crore fresh issue.
Offer for Sale: ₹133 Crore
The IPO also includes an offer for sale of 4,15,62,500 shares.
The OFS is being undertaken by existing shareholders, including Starfish I Pte. Ltd. and other institutional and individual investors. Proceeds from the OFS will go to the selling shareholders rather than AceVector.
The current IPO structure therefore represents a smaller offer than the company's earlier proposal, which had contemplated a significantly larger OFS.
The minimum bid under the AceVector IPO is 468 shares. At the upper price band of ₹32, the minimum investment can be calculated as follows:
468 × ₹32 = ₹14,976
Therefore, an investor applying at the upper price band would need ₹14,976 for one lot.
The maximum retail application can be made for 6,084 shares, equivalent to 13 lots. At ₹32 per share, this represents an application value of ₹1,94,688.
The AceVector IPO follows the disclosed allocation structure for different investor categories.
| Investor Category |
Reservation |
| Qualified Institutional Buyers (QIBs) |
Not more than 75% |
| Non-Institutional Investors (NIIs) |
Not more than 15% |
| Retail Individual Investors |
Not more than 10% |
The reservation percentages are based on the structure disclosed for the issue.
AceVector is a digital commerce company operating across three principal business areas: Snapdeal, Unicommerce and Stellaro Brands.
Snapdeal operates a value-focused e-commerce marketplace, Unicommerce provides e-commerce enablement SaaS solutions, and Stellaro Brands develops and operates consumer brands through online and offline channels.
The company was originally incorporated in 2007. Its business evolved from a coupon-booklet business into an online deals platform and subsequently into an e-commerce marketplace.
AceVector acquired a stake in Unicommerce in 2015 and subsequently brought its marketplace, SaaS and consumer-brand businesses under the AceVector structure.
The company changed its name from Snapdeal Limited to AceVector Limited in December 2022, with the fresh certificate of incorporation issued in January 2023.
AceVector is promoted by Kunal Bahl, Rohit Kumar Bansal and Starfish I Pte. Ltd.
AceVector combines three digital commerce businesses that operate at different points of the e-commerce value chain.
| Business |
Role |
| Snapdeal |
Value-focused e-commerce marketplace |
| Unicommerce |
SaaS tools for e-commerce operations |
| Stellaro Brands |
Consumer brands and omnichannel retail |
This structure gives AceVector exposure to both B2C commerce and B2B technology services.
Snapdeal connects consumers and sellers through its marketplace, Unicommerce provides technology infrastructure for sellers and brands, while Stellaro Brands operates consumer-facing brands.
The three businesses also have different financial characteristics. The marketplace is the largest revenue contributor but remains loss-making at the adjusted EBITDA level. Unicommerce contributes SaaS revenue and adjusted EBITDA, while Stellaro Brands remains a relatively small part of the group.
Snapdeal Business
Snapdeal is AceVector's value-focused e-commerce marketplace. It focuses on affordable products across categories including fashion, home and general merchandise, and beauty and personal care.
The marketplace primarily targets value-conscious consumers, particularly in Tier 2 and smaller cities.
In FY2026, Snapdeal served customers across 18,972 pin codes in India. Around 82.22% of delivered units originated from non-metro cities, while 83.75% of units were priced below ₹599.
Snapdeal follows an asset-light marketplace model rather than operating as a traditional inventory-led retailer.
Snapdeal FY2026 Operating Metrics
| Metric |
FY2026 |
| Annual transacting customers |
About 12.16 million |
| Pin codes served |
18,972 |
| Delivered units |
25.98 million |
| Marketplace NMV |
₹1,093.1 crore |
| Non-metro share of delivered units |
82.22% |
| Units priced below ₹599 |
83.75% |
Snapdeal recorded approximately 2.6 crore delivered units and marketplace NMV of around ₹1,093.1 crore in FY2026.
The scale of its non-metro reach and concentration of units below ₹599 indicate the importance of value-focused consumption to the marketplace business.
Unicommerce Business
Unicommerce is AceVector's e-commerce enablement SaaS business. Its products include Uniware, Shipway and Convertway.
The platform supports activities such as:
- Order management
- Inventory management
- Warehouse management
- Logistics
- Shipping
- Returns
- E-commerce operations
Unicommerce became a separately listed company in 2024.
AceVector holds approximately 26.13% of Unicommerce's equity but consolidates the business in its financial statements based on management control. This means Unicommerce makes a significant contribution to AceVector's consolidated financial statements despite AceVector having a minority economic ownership stake.
In FY2026, the SaaS business generated approximately ₹204.34 crore of revenue and reported adjusted EBITDA of around ₹41.28 crore.
Its client base increased to 8,261 in FY2026 from 7,008 in FY2025.
Stellaro Brands
Stellaro Brands is AceVector's consumer-brand business, focused on building and operating value-focused brands.
One of its brands is Rangita, a women's ethnic-wear brand.
Stellaro Brands follows an omnichannel model covering both online and offline channels. As of March 2026, the business operated 17 exclusive brand outlets.
The segment remains substantially smaller than Snapdeal and Unicommerce, contributing approximately ₹12.77 crore of revenue in FY2026.
AceVector operates across several parts of India's digital commerce ecosystem, including online retail, value-focused e-commerce, e-commerce SaaS, logistics technology, consumer brands and digital commerce infrastructure.
The company has identified value-focused e-commerce and e-commerce enablement SaaS as key growth opportunities.
According to the company's industry analysis provided for the IPO, the e-commerce enablement SaaS market is projected to grow at a 30.7% CAGR between FY2025 and FY2030.
This market opportunity is relevant particularly to Unicommerce. However, AceVector operates in competitive markets. Snapdeal faces larger and better-capitalised e-commerce platforms, while Unicommerce operates in a technology segment where software, logistics and e-commerce capabilities continue to evolve.
AceVector's financial performance provides an important basis for understanding the AceVector IPO valuation and investment considerations. The following figures are based on the company's restated consolidated financial information.
FY2024 Financial Performance
| Particulars |
FY2024 |
| Revenue from operations |
₹379.76 Cr |
| Total income |
₹384.74 Cr |
| Total expenses |
₹427.67 Cr |
| EBITDA |
-₹35.77 Cr |
| Profit/Loss after tax |
-₹51.30 Cr |
| Total assets |
₹410.50 Cr |
| Net worth |
-₹142.09 Cr |
| Operating cash flow |
-₹54.85 Cr |
FY2025 Financial Performance
| Particulars |
FY2025 |
| Revenue from operations |
₹395.02 Cr |
| Total income |
₹406.77 Cr |
| Total expenses |
₹453.75 Cr |
| EBITDA |
-₹107.79 Cr |
| Profit/Loss after tax |
-₹126.31 Cr |
| Total assets |
₹558.09 Cr |
| Net worth |
₹126.33 Cr |
| Operating cash flow |
-₹27.35 Cr |
FY2026 Financial Performance
| Particulars |
FY2026 |
| Revenue from operations |
₹510.38 Cr |
| Total income |
₹537.67 Cr |
| Total expenses |
₹575.22 Cr |
| EBITDA |
-₹22.17 Cr |
| Profit/Loss after tax |
-₹45.51 Cr |
| Total assets |
₹575.28 Cr |
| Net worth |
₹102.08 Cr |
| Operating cash flow |
-₹1.80 Cr |
Revenue from operations increased from ₹395.02 crore in FY2025 to ₹510.38 crore in FY2026, representing approximately 29.2% year-on-year growth.
At the same time, the restated consolidated loss narrowed from ₹126.31 crore to ₹45.51 crore.
AceVector Revenue Growth
AceVector's revenue from operations increased from ₹379.76 crore in FY2024 to ₹395.02 crore in FY2025 and ₹510.38 crore in FY2026.
The year-wise figures are:
-
FY2024: ₹379.76 crore
-
FY2025: ₹395.02 crore
-
FY2026: ₹510.38 crore
The largest increase occurred in FY2026, when revenue grew by approximately 29.2% year-on-year.
The growth was supported mainly by the marketplace and SaaS businesses.
AceVector Total Income
AceVector's total income, including other income, increased to ₹537.67 crore in FY2026.
| Financial Year |
Total Income |
| FY2024 |
₹384.74 crore |
| FY2025 |
₹406.77 crore |
| FY2026 |
₹537.67 crore |
Other income was approximately ₹27.3 crore in FY2026.
AceVector Losses
AceVector remained loss-making across all three reported financial years.
The restated loss after tax was ₹51.30 crore in FY2024, ₹126.31 crore in FY2025 and ₹45.51 crore in FY2026.
The FY2026 reduction was significant, but the company had not yet reached consolidated profitability.
FY2025 also included substantial exceptional expenses that affected the reported loss for that year.
AceVector EBITDA
AceVector's reported EBITDA remained negative across the three financial years.
| Financial Year |
EBITDA |
| FY2024 |
-₹35.77 crore |
| FY2025 |
-₹107.79 crore |
| FY2026 |
-₹22.17 crore |
The company also reports adjusted EBITDA, which excludes specified items for analytical purposes.
Adjusted EBITDA loss improved from approximately ₹39.16 crore in FY2025 to ₹15.94 crore in FY2026.
AceVector's three businesses have different revenue and profitability profiles, making segment-level performance important when analysing the AceVector IPO.
FY2026 Marketplace Segment
| Particulars |
FY2026 |
| Revenue |
₹293.68 crore |
| Approx. Share of Revenue |
57.54% |
The marketplace remained AceVector's largest revenue contributor in FY2026.
FY2026 SaaS Segment
| Particulars |
FY2026 |
| Revenue |
₹204.34 crore |
| Approx. Share of Revenue |
40.04% |
The SaaS business represented a significant portion of the group's revenue and operating performance in FY2026.
FY2026 Consumer Brands Segment
| Particulars |
FY2026 |
| Revenue |
₹12.77 crore |
| Approx. Share of Revenue |
2.50% |
The consumer brands business remained the smallest contributor to AceVector's revenue in FY2026.
These three segments contribute differently to AceVector's financial performance, with the marketplace driving revenue, the SaaS business supporting operating profitability, and consumer brands remaining at an early stage of scale.
Marketplace Segment Performance
The marketplace generated approximately ₹293.7 crore in FY2026.
However, it continued to report an adjusted EBITDA loss of around ₹50.2 crore, compared with approximately ₹48 crore in FY2025.
Therefore, marketplace revenue growth has not yet translated into segment-level adjusted EBITDA profitability.
SaaS Segment Performance
The SaaS business generated approximately ₹204.3 crore of revenue in FY2026.
Its adjusted EBITDA increased to around ₹41.3 crore from ₹25.3 crore in FY2025.
The SaaS segment therefore represents an important contributor to AceVector's operating improvement.
Consumer Brands Segment Performance
The consumer brands business generated approximately ₹12.8 crore of revenue in FY2026.
Compared with the marketplace and SaaS businesses, Stellaro Brands remains a small contributor to the group's revenue.
Profitability and cash generation are important considerations in the AceVector IPO because the company has historically incurred losses.
Operating cash flow improved considerably over the three-year period but remained negative in FY2026.
| Financial Year |
Cash Flow from Operations |
| FY2024 |
-₹54.85 crore |
| FY2025 |
-₹27.35 crore |
| FY2026 |
-₹1.80 crore |
The operating cash deficit narrowed from ₹54.85 crore in FY2024 to ₹1.80 crore in FY2026.
However, AceVector still did not generate positive operating cash flow on a full-year basis in FY2026.
This makes the movement towards sustainable positive operating cash generation an important metric to track after listing.
The fresh issue proceeds will primarily be directed towards the marketplace business.
| Object |
Amount |
| Marketing and business promotion for marketplace |
₹132 crore |
| Technology infrastructure for marketplace |
₹50 crore |
| Inorganic growth and general corporate purposes |
Balance |
AceVector has completed a ₹13 crore pre-IPO placement, with the amount adjusted against the fresh issue component.
Marketing and Business Promotion
AceVector plans to spend ₹132 crore on marketing and business promotion for its marketplace business.
Marketing expenditure is particularly relevant for an e-commerce marketplace because customer acquisition and retention can influence transaction volumes and overall unit economics.
The key post-listing metric will be whether the additional marketing investment translates into higher transaction volumes and improved contribution economics.
Technology Infrastructure
The company plans to allocate ₹50 crore towards technology infrastructure for the marketplace.
The proposed expenditure is intended to support the technology capabilities required to scale the platform.
Acquisitions
A portion of the remaining fresh issue proceeds may be used for inorganic growth through acquisitions and general corporate purposes.
Specific acquisition targets have not been identified for this component at the IPO stage.
AceVector's promoter group comprises Kunal Bahl, Rohit Kumar Bansal and Starfish I Pte. Ltd.
Before the IPO, Starfish was the largest shareholder with approximately 30.11%, followed by Kunal Bahl at 12.19% and Rohit Kumar Bansal at 10.93%.
B2 Professional Services LLP, a promoter-group entity, held approximately 10.87%.
According to the IPO disclosures provided, founders Kunal Bahl and Rohit Bansal are not selling their shares in the current OFS.
At the upper AceVector IPO price of ₹32 per share, the expected post-issue market capitalisation is approximately ₹1,741.4 crore.
The post-issue equity share capital is approximately 54.42 crore shares.
| Valuation Metric |
FY2026 / IPO |
| Upper IPO Price |
₹32 |
| Post-issue Market Cap |
~₹1,741.4 crore |
| Revenue from operations |
₹510.38 crore |
| P/E |
Not meaningful because company is loss-making |
| FY2026 EPS |
Negative |
| RoNW |
-59.54% |
| NAV |
₹2.21 |
| Price-to-book at upper band |
~14.48x |
Since AceVector reported a loss in FY2026, a conventional P/E ratio cannot be meaningfully calculated.
The price-to-sales ratio at the upper price band is approximately 3.41x, based on FY2026 revenue from operations.
Consequently, the key financial indicators for analysing the AceVector IPO include revenue growth, segment profitability, operating cash flow and progress towards sustainable profitability rather than P/E alone.
No specific AceVector IPO GMP figure has been provided in the data for this analysis.
Therefore, an AceVector IPO GMP value should not be inferred from the issue price or expected listing date. GMP is a separate unofficial market indicator and should not be treated as part of the company's reported financial performance or valuation.
AceVector's IPO profile combines revenue growth, improving losses, an established marketplace and a SaaS business with positive adjusted EBITDA.
1. Revenue Growth Accelerated in FY2026
Revenue from operations increased by approximately 29.2% in FY2026 to ₹510.38 crore.
This represented a substantially faster increase than the growth recorded in FY2025.
2. Consolidated Loss Narrowed
The restated consolidated loss reduced from ₹126.31 crore in FY2025 to ₹45.51 crore in FY2026.
Adjusted EBITDA loss also improved from approximately ₹39.16 crore to ₹15.94 crore.
3. Unicommerce Provides SaaS Exposure
Unicommerce contributed approximately ₹204.3 crore of revenue and ₹41.3 crore of adjusted EBITDA in FY2026.
Its client base increased from 7,008 in FY2025 to 8,261 in FY2026.
4. Snapdeal Has Wide Value-focused Reach
Snapdeal served 18,972 pin codes in FY2026, with 82.22% of delivered units originating from non-metro cities.
This provides AceVector with exposure to value-focused online consumption beyond India's major metropolitan markets.
5. Asset-light Marketplace Model
Snapdeal operates as a marketplace rather than a traditional inventory-led retailer.
This model can reduce the need for the company to hold inventory. However, the asset-light structure does not eliminate spending requirements related to logistics, technology, marketing and customer acquisition.
The AceVector IPO also carries several financial, operational and structural risks that investors need to examine alongside the company's growth metrics.
1. AceVector Remains Loss-making
AceVector reported a restated consolidated loss of ₹45.51 crore in FY2026.
Although the loss narrowed substantially from FY2025, the company has not yet demonstrated sustained consolidated profitability.
2. Operating Cash Flow Remains Negative
Operating cash flow was negative ₹1.80 crore in FY2026.
The improvement from the previous two years was substantial, but the company still did not generate positive operating cash flow for the full year.
3. Dependence on Snapdeal
The marketplace accounted for approximately 57.54% of AceVector's FY2026 revenue from operations.
Consequently, changes in Snapdeal's customer acquisition, order volumes, retention or monetisation could have a material impact on the group.
4. Snapdeal Marketplace Remains Loss-making
The marketplace reported an adjusted EBITDA loss of approximately ₹50.2 crore in FY2026.
This is particularly relevant because a significant portion of the fresh IPO proceeds is being allocated towards marketplace marketing and technology.
Investors will need to track whether these investments improve unit economics and reduce marketplace losses.
5. Intense Competition
The value-focused e-commerce market is highly competitive.
Snapdeal competes with larger e-commerce and marketplace platforms that may have greater financial resources, larger customer bases and greater capacity to invest in technology, logistics and customer acquisition.
6. Unicommerce Consolidation Risk
AceVector owns approximately 26.13% of Unicommerce but consolidates the business based on management control.
Any future change in governance or control arrangements could affect AceVector's ability to consolidate Unicommerce's financial results.
7. Customer Acquisition Costs
The marketplace requires continued expenditure to acquire and retain customers.
If customer acquisition costs rise faster than revenue or contribution margins, higher sales may not necessarily result in improved profitability.
8. Logistics Costs
Logistics is a significant cost for AceVector.
FY2026 logistics expenses were approximately ₹240.4 crore, making logistics one of the largest cost categories.
The business therefore remains sensitive to logistics costs and operating efficiency.
9. Cybersecurity and Data Protection Risks
AceVector's businesses depend heavily on digital infrastructure, technology and consumer data.
Cybersecurity incidents, data breaches, system failures or non-compliance with applicable data-protection requirements could affect operations, reputation and financial performance.
10. Litigation and Regulatory Matters
The company's disclosures include various pending legal and regulatory matters.
Reported claims across the disclosed proceedings are material, making the litigation section of the RHP important for investors reviewing the company's risk profile.
11. Consumer Brands Business Remains Small
Stellaro Brands currently contributes only a small proportion of AceVector's revenue.
Its ability to become a meaningful contributor will depend on the scaling of brands such as Rangita and the expansion of its omnichannel operations.
The current AceVector IPO is not the company's first attempt to access the public markets.
AceVector had previously filed IPO papers in 2021 for a proposed issue of approximately ₹1,250 crore. The IPO plan was subsequently withdrawn in 2022 amid unfavourable market conditions.
The company later returned to the IPO process through a confidential filing with SEBI in July 2025. SEBI subsequently cleared the IPO proposal, and AceVector filed its RHP in September 2026.
Its subsidiary Unicommerce separately went public in 2024.
The financial and operating metrics below can help investors monitor how AceVector's business performs after listing.
1. Snapdeal Revenue Growth
Snapdeal is the largest contributor to AceVector's revenue. Investors can track whether marketplace revenue continues to grow after the IPO.
2. Marketplace Adjusted EBITDA
The marketplace remains loss-making at the adjusted EBITDA level.
Changes in this metric will indicate whether investments in scale and operating efficiency are translating into improved marketplace economics.
3. Unicommerce Growth
Unicommerce is an important contributor to group revenue and operating profitability.
Client additions, revenue growth and adjusted EBITDA are therefore key metrics to monitor.
4. Operating Cash Flow
AceVector needs to move from negative operating cash flow towards sustainable positive cash generation.
5. Marketing Efficiency
AceVector plans to allocate ₹132 crore towards marketplace marketing and business promotion.
Investors can assess the relationship between marketing expenditure, customer acquisition, transaction volumes and revenue to understand whether the investment is improving business economics.
6. Stellaro Brands Contribution
The consumer-brand business currently contributes a small share of group revenue.
Its future revenue growth and profitability will determine whether it develops into a meaningful third business engine.
7. Unicommerce Control
AceVector's approximately 26.13% economic ownership of Unicommerce is lower than the proportion of Unicommerce's financial results consolidated by AceVector because the group exercises management control.
The governance and board-control arrangements therefore remain relevant to monitor.
Planning to invest in the AceVector IPO? Apply for the issue online through Zerodha.
| Particular |
Key Figure |
| IPO Size |
₹420 crore |
| Fresh Issue |
₹287 crore |
| OFS |
₹133 crore |
| Price Band |
₹30 to ₹32 |
| Lot Size |
468 shares |
| Minimum Investment |
₹14,976 |
| FY2026 Revenue from Operations |
₹510.38 crore |
| FY2026 Total Income |
₹537.67 crore |
| FY2026 Loss |
₹45.51 crore |
| FY2026 EBITDA |
-₹22.17 crore |
| FY2026 Adjusted EBITDA |
-₹15.94 crore |
| FY2026 Operating Cash Flow |
-₹1.80 crore |
| FY2026 Marketplace Revenue |
~₹293.68 crore |
| FY2026 SaaS Revenue |
~₹204.34 crore |
| FY2026 Consumer Brands Revenue |
~₹12.77 crore |
| FY2026 Net Worth |
₹102.08 crore |
| Expected Post-Issue Market Cap at ₹32 |
~₹1,741.4 crore |
| RoNW |
-59.54% |
AceVector is entering the public market with a digital commerce business model spanning Snapdeal, Unicommerce and Stellaro Brands. The company's FY2026 performance showed 29.2% growth in revenue from operations to ₹510.38 crore, while its restated consolidated loss narrowed to ₹45.51 crore.
The SaaS business was profitable at the adjusted EBITDA level, generating approximately ₹204.3 crore of revenue and ₹41.3 crore of adjusted EBITDA in FY2026. In contrast, the marketplace remained loss-making at the adjusted EBITDA level despite being the group's largest revenue contributor.
AceVector has also not yet achieved consolidated profitability or positive full-year operating cash flow. Snapdeal accounted for approximately 57.54% of FY2026 revenue from operations, while the company plans to allocate ₹132 crore of fresh IPO proceeds towards marketplace marketing and business promotion and another ₹50 crore towards marketplace technology infrastructure.
At the upper AceVector IPO price of ₹32, the expected post-issue market capitalisation is approximately ₹1,741.4 crore. Since the company remains loss-making, conventional P/E-based analysis is not meaningful. Revenue growth, marketplace economics, SaaS profitability, operating cash flow and progress towards sustainable profitability are therefore important metrics to monitor.
The Red Herring Prospectus should be treated as the primary document for reviewing AceVector's financial statements, risk factors, litigation, related-party matters, shareholding and objects of the issue before making an investment decision.
Want to compare AceVector with other recent mainboard listings across different sectors? Use the IPO dashboard to track issue sizes, pricing, subscription details and listing timelines.
AceVector IPO FAQs
1. What is the AceVector IPO price band?
The AceVector IPO price band is ₹30 to ₹32 per equity share.
2. When will the AceVector IPO open and close?
The AceVector IPO will open for subscription on 25 September 2026 and close on 29 September 2026.
3. What is the AceVector IPO lot size and minimum investment?
The lot size is 468 shares. At the upper price band of ₹32, the minimum investment is ₹14,976 for one lot.
4. What is the AceVector IPO issue size?
The total AceVector IPO issue size is approximately ₹420 crore. It comprises a ₹287 crore fresh issue and a ₹133 crore offer for sale.
5. Is AceVector profitable?
No. AceVector reported a restated consolidated loss of ₹45.51 crore in FY2026. While the loss narrowed from ₹126.31 crore in FY2025, the company remained loss-making and also reported negative operating cash flow of ₹1.80 crore in FY2026.