AceVector's initial public offering (IPO) has been subscribed 2.07 times as of the third day of bidding, answering the question of how well the market has received this share sale. This strong subscription reflects investor interest in the SoftBank-backed digital commerce company.
- The IPO includes a fresh equity issue worth ₹287 crore and an offer-for-sale (OFS) of 4.16 crore shares totaling ₹133 crore.
- The price band for the IPO is set between ₹30 and ₹32 per share, with each lot consisting of 468 shares.
- Subscription rates by category: retail investors 2.73 times, non-institutional investors 2.72 times, and qualified institutional buyers (QIBs) 1.5 times.
- Allotment of shares is expected on September 30, with listing planned for October 5.
What is included in AceVector's IPO?
The IPO is a combination of a fresh issue of equity shares worth ₹287 crore and an offer-for-sale of 4.16 crore shares valued at ₹133 crore. The offer-for-sale shares are being sold by the promoter and existing investors.
How has the subscription progressed so far?
By the third day of bidding, AceVector's IPO received bids for 1,533,734,428 shares against an offer of 742,291,66 shares, resulting in a subscription rate of 2.07 times overall. Retail investors showed strong interest with a 2.73 times subscription, while non-institutional investors subscribed 2.72 times. Qualified institutional buyers subscribed 1.5 times.
What is the price band and lot size for the IPO?
The IPO price band is fixed between ₹30 and ₹32 per share. Investors can apply in lots of 468 shares each.
What will AceVector do with the funds raised?
The company plans to use the net proceeds to fund marketing and promotion expenses for its marketplace business, enhance technology infrastructure, pursue inorganic growth through acquisitions, and cover general corporate purposes.
What businesses does AceVector operate?
AceVector runs an asset-light digital commerce ecosystem that includes Snapdeal, a value-focused lifestyle e-commerce marketplace; Unicommerce, a software-as-a-service platform that enables e-commerce operations; and Stellaro Brands, which focuses on omnichannel consumer brand retailing.
When will the IPO allotment and listing occur?
The allotment of shares is expected to be finalized on Wednesday, September 30. The company's shares are scheduled to be listed on the stock exchanges on October 5.
Frequently Asked Questions
Q: What is the total value of AceVector's IPO?
A: The IPO combines a fresh equity issue worth ₹287 crore and an offer-for-sale of ₹133 crore, totaling ₹420 crore.
Q: How many shares are offered in the IPO?
A: The IPO offers 7,422,916 shares in total, including fresh issue and offer-for-sale shares.
Q: What is the significance of the IPO for AceVector?
A: The company expects benefits such as enhanced brand recognition and the creation of a public market for its equity shares in India.
