According to reports, AceVector, the parent company of e-commerce site Snapdeal, is getting ready to submit its draft red herring prospectus (DRHP) for an INR 500 Cr IPO. According to a media report, which cited sources, AceVector’s public offering will mostly consist of a new share offering.
A media report that cited a source in the firm states that CLSA and IIFL are expected to serve as the proposed IPO’s bankers and that the proposed issue will be mostly primary capital. In addition to Snapdeal, AceVector is the parent company of Stellaro Brands, a house of brands platform, and Unicommerce, a listed e-commerce enabling platform.
In 2022, the three companies were combined under a single group brand. The largest shareholders in the combined business are SoftBank, Nexus Venture Partners, and cofounders Kunal Bahl and Rohit Bansal.
AceVector’s Ventures and Current Position
Snapdeal was founded in 2010 and caters to consumers in smaller cities and towns with an emphasis on value e-commerce. Non-metropolitan regions account for more than 80% of Snapdeal’s orders.
Clothing, home goods, and personal care items make up the great bulk of the products offered on the platform, a value-based shopping site, and most of them cost less than INR 600. On one occasion, though, the platform lost steam and was about to shut down.
In 2017, Snapdeal seriously considered merging with Flipkart, but the deal fell through. It gradually got back on track with its transition to a value-based e-commerce proposition. According to experts, about 65% of Indian internet buyers would come from Tier-2 and Tier-3 cities by 2030, which is in accordance with Snapdeal’s business strategy.
A technology platform called Unicommerce offers online retailers a complete solution for handling orders, inventory, shipping, and marketing. The company’s offerings will be expanded after Unicommerce purchased Shipway, a shipping solutions provider, in 2024 after a highly successful initial public offering (IPO) that was oversubscribed 168 times.
A platform called Stellaro Brands creates reasonably priced consumer brands. The primary brand is Rangita, which specialises in South Indian ethnic clothing sales for women both online and in-store. Through a variety of local and online means, Rangita is currently seeking to increase its presence in additional cities.
Indian Startups’ IPO Carnival Continues
AceVector is now the newest IT company to join the IPO trend as a result of this. This year, Ather Energy and ArisInfra have both gone public on stock exchanges. On 17 July, coworking giant Smartworks is anticipated to go public on the stock exchanges.
Moreover, 19 cutting-edge tech firms, including Groww, Meesho, Urban Company, and others, have submitted their DRHPs for listing with SEBI. The market regulator has given regulatory clearances to a number of them.
The massive coworking company WeWork India also received SEBI approval yesterday to begin its first public offering (IPO). A few days ago, Smartworks’ public offering ended with a 13.45X oversubscription, with buyers purchasing 13.9 Cr shares instead of the 1.04 Cr available.
As it prepares for a public offering, meat and seafood firm Captain Fresh became a public corporation last week.
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