Snapdeal Parent Files Confidential Draft Papers With SEBI, Likely to Raise ₹500 Crore in IPO

Gurgaon-based AceVector Group, the parent company of Snapdeal and Unicommerce, has filed for an initial public offering (IPO) using SEBI’s confidential filing route, as announced in a newspaper ad on Saturday.

This confidential process lets companies delay public disclosure and gives flexibility to change the size of the IPO later.

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Founded by Kunal Bahl and Rohit Bansal, AceVector also runs Stellaro Brands and holds over 28% of Unicommerce.

Unicommerce was listed in August last year at ₹235 per share, more than double its issue price of ₹108. However, the stock has since dropped and closed at ₹128.80 on Friday.

In FY25, Unicommerce's revenue grew 30% to ₹135 crore, and profit rose 34% to ₹18 crore.

Snapdeal, on the other hand, saw its FY24 revenue rise slightly by 2% to ₹380 crore, while its losses dropped 43% to ₹160 crore.

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With this move, AceVector has joined a growing list of new-age companies gearing up to go public, including Curefoods, groww, Pine Labs, PhysicsWallah, Shiprocket, Urban Company, boat, Capillary Technologies and Wakefit.