Acevector shares open nearly 12% below IPO price on debut
Acevector, the parent of Snapdeal, listed on the BSE and NSE at about a 12% discount to its ₹32 offer price, falling short of market expectations.
Acevector, which owns Snapdeal, debuted on Indian exchanges with shares priced at ₹28.30 on the BSE and ₹28.32 on the NSE, roughly a 12% discount to the ₹32 IPO price. This performance fell short of the modest 3% rise many expected, given a grey-market price of ₹33. The offering, totaling ₹420 crore, attracted 4.93 times the shares on offer, with strong demand from retail, non-institutional and qualified institutional buyers.
The issue comprised a fresh issue of ₹287 crore and an offer-for-sale of ₹133 crore. Proceeds are earmarked for marketing, business promotion and technology infrastructure for the company's marketplace and SaaS operations. Analysts note that while revenue growth is solid, concerns remain over persistent losses, fierce competition, and reliance on third-party logistics.
Why it matters
The debut price signals market sentiment toward Snapdeal’s parent and its future growth prospects.
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