AceVector

Updates with closing levels

Oct 5 (Reuters) - Shares of AceVector ACEV.NS, the parent company of Indian e-commerce platform Snapdeal, made a subdued debut on Monday, falling 19.3%, as investors were concerned over the lack of profits.

Here are more details:

• Shares of the SoftBank-backed 9984.T company listed at 28.32 rupees on the National Stock Exchange of India, down 11.5% from the issue price of 32 rupees.

• Shares extended losses to end at 25.81 rupees, valuing the company at 14.19 billion rupees ($147.36 million).

• The IPO was subscribed 4.93 times last week, a muted response for an IPO in recent months. Data from Prime Database, which provides data on the Indian primary capital market, showed that about 66% of IPOs in the first half of fiscal year 2026-27 received more than 10 times the bids that were on offer.

• The company competes with Nykaa FSNE.NS and Meesho MEES.NS in India's growing e-commerce market.

• AceVector, which also owns Unicommerce and Stellaro Brands, posted a consolidated loss of 607.8 million rupees for ​fiscal year 2026, ​with revenue of 5.1 billion rupees.

• "The valuation appears reasonable on a sales basis, but is not deeply attractive given the absence of profits," Swastika Investmart said in a note last week.

• AceVector's IPO comprised a fresh issue ​of shares worth 2.87 billion rupees and an offer ​for sale of up to 41.56 million shares by existing investors, ‌including ⁠controlling shareholder Starfish, owned by SoftBank, and Nexus Venture Partners.

($1 = 96.2950 Indian rupees)

(Reporting by Vivek Kumar M; Editing by Rashmi Aich and Mrigank Dhaniwala)

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