Snapdeal's parent AceVector''s IPO was subscribed 4.93 times overall by the close of bidding on September 29, the third and final day of the issue. Ahead of its listing on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), the latest grey market premium (GMP) stood at Rs 0.6. This indicates an estimated listing price at a 1.88% premium over the upper price band of Rs 32.
Note: GMP is entirely unofficial, based on speculative unlisted market demand, and does not guarantee the actual listing price.
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Here is everything you need to know about the Snapdeal Parent AceVector IPO before trading begins.
AceVector IPO GMP, Expected Listing Price
The latest Grey Market Premium (GMP) for Snapdeal Parent AceVector IPO was reported at Rs 0.6 as of 7:30 a.m. on October 5. With the upper price band of Rs 32 the estimated listing price of the IPO is Rs 32.6 (cap price + today's GMP). This implies a strong potential listing premium of 1.88% over the issue price.
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AceVector IPO Overall Subscription Status
The initial public offering (IPO) of Snapdeal Parent AceVector was subscribed 4.93 times by the third and final day of bidding on September 29.
The category-wise subscription breakdown is as follows:
- Qualified Institutional Buyers (QIB): 3.38 times
- Non-Institutional Investors (NII): 8.16 times
- Retail Investors: 4.62 times
The share allotment for the Snapdeal Parent AceVector IPO was finalised on Wednesday, September 30. Shares of AceVector will list on NSE and BSE on Monday, October 5.
AceVector IPO Details
Acevector IPO is a book-build issue of Rs 420 crore. The issue is a combination of fresh issue of 8.97 crore shares aggregating to Rs 287 crore and offer for sale of 4.16 crore shares worth Rs 133 crore.
The final issue price is set at Rs 32 per share.
Retail investors were required to bid for a minimum lot size of 468 shares, translating to a minimum investment of Rs 14, 976 at the upper end of the price band.
AceVector IPO: Use Of Proceeds
The company plans to use the net proceeds from the issue towards the following objects:
1. Funding a portion of the marketing and business promotion expense of the Marketplace business of Company (Rs 132 crore)
2. Funding the technology infrastructure costs of the Marketplace business of company (Rs 50 crore)
3. Funding inorganic growth through acquisitions and general corporate purpose (Rs 70.92 crore)
4. The remaining amount will be used for issue expenses (Rs 49.86 crore)
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About Snapdeal Parent AceVector Ltd.
Incorporated in 2007, Acevector Ltd. operates an asset-light digital commerce ecosystem through its subsidiaries, spanning data, technology, and AI-driven businesses. Its operations include a value-focused e-commerce marketplace, e-commerce enablement SaaS platforms, and consumer brand businesses.
The ecosystem comprises: (i) Snapdeal, a value-driven lifestyle e-commerce marketplace offering affordable and quality merchandise across lifestyle categories (ii) Uniware, Convertway, and Shipway, providing a comprehensive suite of e-commerce enablement SaaS products that support end-to-end e-commerce operations; and (iii) Stellaro Brands, an omnichannel portfolio of value-focused consumer brands.
Disclaimer: Investments in IPOs are subject to market risks. Investors should read the red herring prospectus carefully and consult a financial adviser before making investment decisions.
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