AceVector Ltd, backed by SoftBank, has taken significant steps in launching its initial public offering (IPO), having refiled updated draft documents with the Securities and Exchange Board of India (Sebi). Their strategy centers on a Rs 300 crore fresh issuance of shares.
Accompanying this new issuance is a comprehensive offer for sale from existing stakeholders, presenting 6.38 crore shares available to potential investors. Notably, prominent shareholders and promoters, including Starfish I Pte Ltd and other institutional investors, are poised to offload parts of their holdings, although Kunal Bahl and Rohit Bansal are maintaining their stakes.
The proceeds of the IPO are earmarked for enhancing technology infrastructure and supporting marketing strategies for AceVector’s flagship operations, particularly Snapdeal. Their financial trajectory shows promise, with significant revenue growth and a reduced EBITDA loss.
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