Upcoming IPO: SEBI Approves Confidential DRHP Of Snapdeal Parent AceVector, Two Others

The Securities and Exchange Board of India on Monday approved the confidential pre-filing of AceVector Ltd., Snapdeal's parent company, and offer documents of Silver Consumers Electricals Ltd. and Steel Infra Solutions Co.

The market regulator issued its observations, which means final approval, on the IPO proposals on Nov. 14.

AceVector confidentially filed its initial public offering documents with the SEBI in July.

Beyond Snapdeal, Gurugram-based AceVector operates Unicommerce, a software-as-a-service platform, and Stellar Brands, a consumer brand building firm. Unicommerce went public in 2024, with its IPO significantly oversubscribed by 168.32 times showing huge investor interest.

Founded by Kunal Bahl and Rohit Bansal, AceVector chose the confidential pre-filing route for its IPO. This allows the company to keep the details of its draft red herring prospectus private until later stages, a flexible option increasingly popular among Indian firms managing their IPO plans.

Steel Infra Solutions IPO aims to raise Rs 96 crore through the fresh issue as a part of the public offering, besides an offer for sale by promoters and other shareholders. It applied for IPO in August.

SISCOL is a Delhi-based structural steel solutions provider offering design, engineering, fabrication and erection for large scale infrastructure projects. As of March 31, the company has six manufacturing units overall in India, with an installed capacity of 1,00,000 MTs . 

The proceeds from the fresh issue will be used Funding for capital expenditure requirements for manufacturing units located in Hyderabad, Vadodara and Bhilai.

Silver Consumer Electricals filed offer documents with SEBI in August to sell shares worth Rs 1,400 crore via an initial public offering. The IPO consists of a fresh issue of Rs 1,000 crore to be used for repaying debt in the current financial year. As of June 30, 2025, consolidated outstanding borrowings stood at Rs 1,103 crore.

Silver Consumer Electricals is a large-scale manufacturer of electrical consumer durables, including pumps and motors, solar pumps and controllers, fans, lighting, other consumer electrical products and agricultural equipment.

The company has established India’s largest single-location and vertically integrated electrical consumer durables and agricultural equipment plant in Rajkot, Gujarat, spread over 138,821 square metres, as per the draft red herring prospectus.

Silver Consumer Electricals operates a dual business model. It owns branded sales under the “Silver” and “Bediya” brands and designs, manufactures and supplies products to renowned original equipment manufacturers in India.