Snapdeal Parent AceVector Files RHP, Trims OFS To 4.16 Cr Shares

Snapdeal-parent AceVector Ltd has filed its red herring prospectus (RHP) with the Securities and Exchange Board of India (SEBI), nearly a year after receiving the markets regulator’s observations on its confidential IPO filing.

The company has cut the fresh issue by ₹13 Cr to ₹287 Cr from the ₹300 Cr proposed in its updated draft red herring prospectus (UDRHP) filed in December 2025. 

Important to highlight that the cut came at the behest of AceVector raising a pre-IPO placement round aggregating to ₹ 13 Cr.

The offer-for-sale (OFS) component has also been reduced by 34.9% to 4.16 Cr shares from 6.39 Cr shares proposed in the UDRHP.

SoftBank’s selling entity Starfish I Pte Ltd has cut its OFS by 34.8% to 2.76 Cr shares from 4.23 Cr shares earlier. The three Nexus-affiliated selling entities — Nexus India Direct Investments II, Nexus Opportunity Fund Ltd and Nexus Ventures III Ltd — will collectively sell 86.96 lakh shares, down from 1.33 Cr shares proposed in the UDRHP.

Meanwhile, individual investor Priyanka Shreevar Kheruka, who had proposed to sell 19.37 lakh shares in the UDRHP, is not participating in the OFS in the RHP.

Other selling shareholders include Jason Ashok Kothari (11.11 lakh shares), Rupen Investment and Industries (2.69 lakh shares) and Centaurus Trading and Investments (2.69 lakh shares), among others.

AceVector’s IPO will open for public subscription on Friday, September 25, following anchor bidding on September 24, and will close on Tuesday, September 29.

(The story will be updated shortly)

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