AceVector IPO Day 3: Subscribed 1.64x; Retail surges to 2.22x
- AceVector IPO closed Day 3 with 1.64x overall subscription
- Retail category led demand with 2.22x subscription
- QIBs subscribed 1.35x; NII sHNI at 1.93x
- Allotment date set for September 30, 2026
*this image is generated using AI for illustrative purposes only.
AceVector IPO concluded its three-day subscription period on September 29, 2026, recording a cumulative subscription of 1.64 times the offer size. Retail investors led the demand with a subscription of 2.22 times, while Qualified Institutional Buyers (QIBs) subscribed 1.35 times.
Subscription Status
The issue saw a gradual build-up in interest over the three days. Starting at 0.23x on Day 1, the total subscription crossed the 1x mark on Day 2, reaching 1.13x, before settling at 1.64x by the close of Day 3.
| Day | Date | QIB | NII (bHNI) | NII (sHNI) | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 | 25-09-2026 | 0.00x | 0.71x | 0.28x | 0.62x | 0.23x |
| Day 2 | 28-09-2026 | 1.03x | 1.41x | 1.09x | 1.34x | 1.13x |
| Day 3 | 29-09-2026 | 1.35x | 1.93x | 1.75x | 2.22x | 1.64x |
Category-wise Breakdown
Retail investors demonstrated the highest conviction, subscribing 2.22 times the allocated portion. Among Non-Institutional Investors (NII), small HNIs (sHNI) subscribed 1.93 times, while big HNIs (bHNI) subscribed 1.75 times. QIB participation stood at 1.35 times. Employee subscriptions were recorded at 0 times.
Intra-day Timeline on 29-09-2026
The final day saw significant movement in the reported snapshots, particularly between 11:15 AM and 12:15 PM IST. Retail demand jumped from 1.91x to 2.22x, while the total subscription rose from 1.48x to 1.64x.
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 11:15 | 1.34x | 1.69x | 1.91x | 1.48x |
| 12:15 | 1.35x | 1.93x | 2.22x | 1.64x |
Offer Details
- Company: AceVector
- Price Band: ₹30.00 - ₹32.00
- Issue Size: ₹14,976 crore - ₹5,00,000 crore
- Min Bid Qty: 468 shares
- Open Date: 2026-09-25 10:00:00
- Close Date: 2026-09-29 17:00:00
About the Company
AceVector operates an asset-light digital commerce ecosystem comprising three businesses: Snapdeal, a value-focused lifestyle e-commerce marketplace; Unicommerce, India's largest e-commerce enablement SaaS platform; and Stellaro Brands, an omnichannel consumer brands business. The company targets value-conscious 'Bharat Shoppers' primarily in Tier 2+ cities. Total consolidated revenue from operations stood at ₹5,103.81 million in FY2026.
Financial Highlights
The company has reported losses over the past three financial years, with revenue showing growth.
| Metric (₹ crore) | FY2026 | FY2025 | FY2024 |
|---|---|---|---|
| Revenue from Operations | 510.38 | 395.02 | 379.76 |
| Total Revenue | 537.66 | 406.77 | 384.74 |
| Profit Before Tax | -37.55 | -120.59 | -45.76 |
| Net Profit | -45.51 | -126.31 | -51.30 |
Objects of the Issue
The company intends to utilize the net proceeds for:
- Funding a portion of the marketing and business promotion expense of the Marketplace business (₹132 crore).
- Funding the technology infrastructure costs of the Marketplace business (₹50 crore).
- Funding inorganic growth through acquisitions and general corporate purposes.
Risk Factors
Key risks disclosed include sustained financial losses and negative cash flows, intense competition in the e-commerce market, cybersecurity threats, dependence on e-commerce industry growth, and pending litigations.
What's Next
Allotment is scheduled for September 30, 2026, with the listing date set for October 5, 2026.
How might AceVector's plan to fund marketing and tech infrastructure via IPO proceeds impact its path to profitability given its history of sustained losses?
What are the potential competitive implications for Snapdeal's 'Bharat Shoppers' strategy if AceVector successfully executes its inorganic growth and acquisition plans?
Will the strong retail subscription (2.22x) translate into significant listing day volatility or price discovery challenges for AceVector shares?
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