Gurugram-based AceVector, parent company of e-commerce marketplace Snapdeal, logistics and retail tech platform Unicommerce, and brand aggregator Stellaro Brands, is set to file its Draft Red Herring Prospectus (DRHP) to raise INR 500 crore through an IPO, as per industry reports.
AceVector IPO Structure and Bankers
The issue will be mainly of a fresh issue of shares, hence a largely primary capital offer. CLSA and IIFL are said to be in talks to be the book-running lead managers for the IPO.
Some reports signal that the DRHP is in the final stages and will be filed with the market regulator soon. While AceVector is yet to comment, the IPO will support the company’s growth across its business verticals.
A Look into AceVector’s Business Units
AceVector has built a tech-driven commerce ecosystem comprising three distinct but interconnected platforms:
1. Snapdeal – A Comeback in Value E-commerce
Founded in 2010 by Kunal Bahl and Rohit Bansal, Snapdeal was once the top e-commerce player in India. After facing a near shutdown and a failed merger with Flipkart in 2017, Snapdeal pivoted towards value e-commerce. The strategy seems to have worked.
With 80% of its orders coming from non-metro and Tier 2/3 cities, Snapdeal focuses on affordable categories like fashion, home goods and personal care mostly under INR 600. As India’s online shopping is shifting towards smaller cities—expected to be 65% of the market by 2030—Snapdeal is well placed to ride this wave.
2. Unicommerce – The Tech Pillar
Unicommerce, the tech arm of AceVector, is a SaaS platform providing solutions in order management, inventory control, shipping integration, omnichannel retail and AI-powered marketing tools. Unicommerce went public in 2024 and was 168 times oversubscribed and listed at 118% premium. Later, it acquired Shipway, a logistics tech startup, in a stock and cash deal to expand its offerings. Today, Unicommerce serves a large client base in India’s digital retail space.
3. Stellaro Brands – Building Consumer Favourites
Stellaro Brands is AceVector’s foray into consumer brand creation. Its flagship label, Rangita, is affordable ethnic wear for women, distributed through online and offline stores, mainly in South India. The company is also expanding its omnichannel retail strategy to reach new urban and semi-urban markets.
Another brand under Stellaro, Urban Mark, is Indo-Western apparel for younger consumers looking for fusion fashion.
Investor Backing and Shareholding
AceVector’s major stakeholders are SoftBank, company founders Kunal Bahl and Rohit Bansal and venture capital firm Nexus Venture Partners. The continued support from these big investors is a vote of confidence in AceVector’s long-term plan.
Part of India’s Startup IPO Wave
AceVector IPO is another chapter in India’s ‘Startup IPO Spring’, with companies like Ather Energy, ArisInfra, and Smartworks already listed. 19 new age tech companies have filed DRHPs with SEBI in 2025 itself, including Urban Company, Meesho, Groww.
This IPO wave shows investor appetite for scalable tech-driven platforms across multiple but interconnected verticals – an ecosystem approach pioneered by companies like Zomato (Eternal group) and InfoEdge (Naukri, 99acres, Jeevansathi, Shiksha). AceVector is following the same playbook.
Conclusion
With DRHP expected soon, AceVector is looking to ride the investor sentiment and strengthen its position in India’s growing value-focused e-commerce space. The INR 500 crore raised through IPO will be used to expand operations, invest in technology infrastructure and scale consumer brands across new geographies.
As the market waits for SEBI’s nod, all eyes will be on whether AceVector can leverage its diversified portfolio to become a pillar of India’s digital-first economy.
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