AceVector drops in market debut, valued at $186 million
05/10/2026 05:46
BUZZ-AceVector drops in market debut, valued at $186 million ** Shares of AceVector ACEV.NS fall 18.5% to 26.09 rupees
** Snapdeal parent's shares list at 28.32 rupees on National Stock Exchange of India, an 11.5% discount to its IPO issue price of 32 rupees
** Company valued at around 17.95 billion rupees ($186.48 million)
** IPO comprises fresh issue of 2.87 billion rupees and offer for sale of shares totaling 1.33 billion rupees
** ACEV says it will use the proceeds to fund technology infrastructure costs and a portion of the marketing and business promotion expense of the marketplace segment, which includes Snapdeal
** It will also fund inorganic growth through acquisitions
($1 = 96.2550 Indian rupees)
(Reporting by Puyaan Singh in Bengaluru)