Snapdeal IPO: GMP, price band among 10 things to know about AceVector public offer

AceVector, the company behind Snapdeal, will open its IPO for subscription on September 25, bringing another internet-led business to India's IPO market. The company has fixed the price band at Rs 30-32 per share. The issue will include a fresh issue of Rs 287 crore and an offer for sale of up to 4.16 crore shares by existing shareholders. The IPO will close on September 29, while the anchor book will open on September 24.

Here are 10 things investors need to know about the Snapdeal IPO.

1) IPO opening and closing dates


The AceVector IPO will open for subscription on Friday, September 25, 2026, and close on Tuesday, September 29, 2026. The anchor investor bidding will open and close on Thursday, September 24.

2) Snapdeal IPO price band

The company has fixed the price band at Rs 30 to Rs 32 per equity share. Each share has a face value of Rs 1.
Investors can bid for a minimum of 468 shares and in multiples of 468 shares thereafter. At the lower end of the price band, one lot will cost Rs 14,040. At the upper end, the minimum bid amount will be Rs 14,976.

3) GMP

The company's shares currently have no GMP in the shadow market. However, this could change depending on the sentiments about the public offer as the opening draws close.

4) IPO size

The offer comprises a fresh issue of shares worth Rs 287 crore and an offer for sale of up to 4,15,62,500 shares. At the upper price band of Rs 32, the OFS is worth about Rs 133 crore. This takes the total IPO size to around Rs 420 crore.

5) Fresh issue and OFS split

The fresh issue proceeds will go to the company. The OFS proceeds will go to selling shareholders.
The company plans to use the fresh issue money for marketing and business promotion expenses of its marketplace business, technology infrastructure costs, inorganic growth through acquisitions, and general corporate purposes.

6) Who is selling shares?

The offer for sale includes up to 2,76,07,082 shares by Starfish I Pte Ltd, the promoter selling shareholder.
Other selling shareholders include Nexus India Direct Investments II, FIH Business Global Pte Ltd, Nexus Opportunity Fund, Nexus Ventures III, Rupen Investment and Industries, Centaurus Trading and Investments, Kenneth Stuart Glass, Jason Ashok Kothari, Laurent Bernard Amouyal, Misha Kohli, Radhika Gupta and Nalin Luis Moniz.

7) Reservation for investors

The IPO is being made through the book-building process. At least 75% of the offer will be allocated to qualified institutional buyers. The company may allocate up to 60% of the QIB portion to anchor investors.
Not more than 15% of the offer will be available for non-institutional bidders, while not more than 10% will be available for retail individual bidders.

8) Anchor investor allocation

Of the anchor investor portion, 40% will be reserved for domestic institutional investors in a specified manner. One-third of this reserved anchor portion will be for domestic mutual funds. Another 6.67% will be reserved for life insurance companies and pension funds. If the life insurance and pension fund portion is under-subscribed, the balance may be allocated to domestic mutual funds, subject to valid bids.

9) Listing and designated exchange

The shares are proposed to be listed on BSE and NSE. For the offer, NSE will be the designated stock exchange.
All bidders, except anchor investors, will have to apply through the ASBA process. UPI bidders will also have to provide their UPI ID, as applicable.

10) Lead managers

IIFL Capital Services, CLSA India and Systematix Corporate Services are the book-running lead managers to the issue.

Disclosure: This article has been written by Podishetti Akash, who is not a SEBI-registered Research Analyst or an Investment Adviser. Podishetti Akash and her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclourses here.