New Delhi, Sep 28 (PTI) The initial public offering of SoftBank-backed digital commerce ecosystem AceVector Ltd was fully subscribed on the second day of bidding on Monday.
The IPO received bids for 8,42,44,680 shares against 7,42,29,166 shares on offer, leading to an overall subscription of 1.13 times, as per the NSE data.
The category for retail investors garnered 1.34 times subscription, while the quota for non-institutional investors was subscribed 1.20 times. The Qualified Institutional Buyers (QIBs) portion was booked 1.03 times.
AceVector Ltd on Thursday raised Rs 189 crore from anchor investors.
The company’s IPO will close on September 29. The IPO price band has been fixed at 30-32 per share.
The company’s shares are tentatively scheduled
to debut on the stock exchanges on October 5.
The IPO comprises a fresh issue of equity shares worth Rs 287 crore and an offer-for-sale (OFS) of 4.16 crore shares aggregating to Rs 133 crore at the upper end of the price band.
Existing investors, including SoftBank, Nexus Venture Partners and Foxconn, among others, will sell a small part of their shareholding through the OFS.
Co-founders Kunal Bahl and Rohit Bansal, who together hold a 33.99 per cent stake in AceVector individually and through their jointly owned entity B2 Professional Services LLP, are not selling any shares in the IPO.
AceVector trimmed the size of its IPO from the earlier plan of a Rs 300-crore fresh issue and an OFS of 6.38 crore equity shares.
The company operates an asset-light digital commerce ecosystem comprising Snapdeal, a value-focused lifestyle e-commerce marketplace; Unicommerce, an e-commerce enablement SaaS platform; and Stellaro Brands, an omnichannel consumer brands retailing business. PTI SUM SHM
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