AceVector, the parent company of Snapdeal, has seen its initial public offering nearly fully subscribed with 96% bids placed by the afternoon of the second day of the ₹420 crore IPO. Institutional investors and retail shareholders are driving momentum ahead of the final day of subscription.
- Qualified institutional buyers fully subscribed their shares
- Retail investors oversubscribed their quota by 1.11 times
- IPO price band set at ₹30-₹32 per share
What happened
AceVector, the holding company behind e-commerce platform Snapdeal, has received subscription bids covering 96% of its ₹420 crore IPO offer on the second day of bidding, with the process set to close the day after. Investors have placed bids for 7.16 crore shares out of the 7.42 crore offered, showing significant demand.
Within this demand, qualified institutional buyers (QIBs) have completely subscribed their allocation, bidding for over 4 crore shares, slightly exceeding their reserved quota. Retail investors have also shown strong enthusiasm, oversubscribing their quota by a factor of 1.11. Non-institutional investors have subscribed to 78% of their available shares.
Why it matters
The IPO will provide AceVector with capital infusion through a fresh issue, primarily for expanding Snapdeal’s marketing and technological capabilities, alongside funding acquisitions and other corporate uses. The robust subscription from institutions and retail investors signals confidence in the company’s growth prospects.
AceVector’s recent financial improvements, including a 64% reduction in net loss for fiscal year 2026 and nearly 30% revenue growth, bolster investor sentiment. The offering also enables early investors like SoftBank and Nexus Venture Partners to partly exit their stakes, balancing fresh capital raising with shareholder liquidity.
What to watch next
Observers will focus on the IPO’s closing day subscription levels to gauge final investor appetite and potential pricing near the upper band of ₹32 per share. The grey market suggests expectations of a flat listing on the BSE and NSE when shares debut on October 5.
Post-listing performance will be closely monitored as funds raised are deployed towards Snapdeal’s strategic growth initiatives, including marketing enhancement and tech infrastructure investments. The company's ability to convert recent operational improvements into sustained profitability will also be a key factor for market participants.