Snapdeal parent AceVector saw its Rs 420 crore IPO subscribed 2.59 times on the final day of bidding. Investors bid for 19.25 crore shares against 7.42 crore shares on offer.
BSE data shows the demand. The bids came across all investor groups by the close on September 29.
Non institutional investors led the book. This group bid for 8.46 crore shares against 2.06 crore shares set aside for them. That is 4.11 times their quota.
The split inside that group is worth a look. Bids between Rs 2 lakh and Rs 10 lakh were subscribed 3.58 times. Bids above Rs 10 lakh were subscribed 4.38 times.
Qualified institutional buyers came next. They bid for 6.38 crore shares against 3.99 crore shares reserved for them, or 1.61 times. Foreign institutional investors bid for 3.99 crore shares. Domestic financial institutions bid for 1.56 crore shares.
Retail investors bid for 4.41 crore shares against 1.37 crore shares reserved for them. That is 3.22 times their quota.
AceVector set a price band of Rs 30 to Rs 32 per share. That values the company at up to Rs 1,741.4 crore. The grey market premium sits at Rs 2, which points to a small gain on listing. The shares list on the BSE and NSE on October 5.
The company raised Rs 189 crore from anchor investors on September 24. Helios Mutual Fund and Taurus Ethical Fund were the only domestic mutual funds to join. They together took 93.75 lakh shares, or 15.87% of the anchor lot.
The issue has a fresh issue worth Rs 287 crore and an offer for sale of up to 4.16 crore shares, worth Rs 133 crore. AceVector plans to spend Rs 132 crore of the fresh money on Snapdeal’s marketing and Rs 50 crore on technology. SoftBank and Nexus Venture Partners are selling part of their stake through the offer for sale.
Kunal Bahl and Rohit Bansal founded the company as Snapdeal in 2010. It took the AceVector name in 2022. Its net loss fell 64% to Rs 45.5 crore in FY26 from Rs 126.3 crore in FY25. Operating revenue rose 29.2% to Rs 510.3 crore from Rs 395 crore. The order came from the numbers, not the noise.
What this means for you: Strong institutional demand and a thin Rs 2 grey market premium point to a steady debut, not a pop. Watch the October 5 listing price.
Disclaimer: This article is for information only and is not investment advice. StartupFeed and its authors are not SEBI-registered investment advisors. Please speak to a SEBI-registered advisor before investing.
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