AceVector raises ₹287 crore in fresh capital through IPO
The Snapdeal parent’s ₹420 crore offer combines new shares with ₹133 crore sold by existing shareholders.
Funding marketplace growth
The company earmarked ₹132 crore for marketplace marketing and promotion and ₹50 crore for technology infrastructure. Remaining proceeds will support acquisitions and general corporate purposes.
AceVector completed the allotment on September 30, before its October 5 stock-market debut. The offer’s ₹133 crore secondary component goes to selling shareholders, including SoftBank and Nexus, while the ₹287 crore fresh issue provides capital to the company.
Institutional participation
Anchor investors included Negen Undiscovered Value Fund, Singularity Growth Opportunities Fund II and Turnaround Opportunities Fund, alongside other institutional funds. Their ₹189 crore allocation formed part of the IPO. Helios participated through its Mid Cap and Small Cap schemes, and Taurus through its Ethical Fund.
Use of funds
Fund marketplace marketing, technology infrastructure, acquisitions and general corporate purposes.