Snapdeal parent AceVector eyes $182 million valuation in India IPO

AceVector Holdings, which owns the online marketplace Snapdeal, has set the stage for its entry into the public markets with an IPO valuing the company at up to $182 million. The company has fixed a price band of ₹30 to ₹32 per share for the offering, according to regulatory filings with stock exchange authorities.

The ₹420 crore IPO represents a significant step for AceVector as it seeks to strengthen its balance sheet and fund growth initiatives. The price band positions the offering at a modest valuation relative to the company's earlier private valuations, reflecting the challenging operating environment faced by Indian e-commerce players in recent years.

Snapdeal, which operates as a multi-category e-commerce marketplace, has faced intense competition from larger rivals but has maintained operations across categories including electronics, fashion, and general merchandise. The IPO proceeds are expected to provide the company with additional capital to enhance its technology infrastructure and expand its seller and buyer base.

The offering comes as several Indian internet and e-commerce companies continue exploring public market avenues to raise capital and provide liquidity to existing investors. Market conditions for technology-focused IPOs in India have remained mixed, with investor appetite varying based on profitability metrics and growth prospects.