Business
SoftBank-backed AceVector files updated IPO papers; targets to raise Rs 300 cr via fresh issue
In addition to the fresh issue, the IPO will also involve an offer-for-sale (OFS) of 6.38 crore shares by existing shareholders, according to the updated draft red herring prospectus (UDRHP).
As part of the OFS, promoter Starfish I Pte Ltd and other shareholders Nexus, Wonderful Star Pte Ltd, Kenneth Stuart Glass, Jason Ashok Kothari, Priyanka Shreevar Kheruka, Rupen Investment and Industries, and Centaurus Trading and Investments will offload their holdings.
Despite the share sale by several investors, AceVector’s promoters and founders Kunal Bahl and Rohit Bansal, who together hold a 23.56 per cent stake, will not participate in the OFS. However, another promoter entity Starfish, which owns 30.68 per cent stake in the company, will be divesting part of its stake.
The company plans to use the IPO proceeds to strengthen technology infrastructure, support marketing and business promotion for Snapdeal, pursue inorganic growth through acquisitions, and meet general corporate requirements.
The Gurugram-based company operates Snapdeal, a value-focused lifestyle e-commerce marketplace; Unicommerce, an e-commerce enablement SaaS platform; and Stellaro Brands, an omnichannel consumer brands arm.
Financially, AceVector reported operating revenue of Rs 244 crore in H1 FY26, up 34 per cent from Rs 181 crore in H1 FY25. During the same period, its adjusted EBITDA loss narrowed significantly to Rs 9.2 crore from Rs 28 crore a year earlier.
AceVector had initiated its IPO journey earlier this year by filing confidential draft papers with Sebi in July and subsequently securing approval in November. By opting for the confidential pre-filing route, the company gained the flexibility to delay public disclosure of IPO details until the later stages.
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For the three months ended December 31, 2025, the total return on the Ave Maria Growth Fund (AVEGX) was -0.19%, compared to 2.66% for the S&P 500® Index and 1.39% for the S&P 500® Equal Weight Index. The returns for
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Thailand is holding elections on Sunday, just two years after the previous polls amid political instability that led to two prime ministers being dismissed. Concerns are rising that ongoing uncertainty may adversely affect the country’s economy. This election follows a tumultuous period characterized by constitutional court rulings and government changes.
Political Challenges and Leadership in Thailand
Thailand’s political landscape has been tumultuous over recent years. The party that formed the government after the last election, Per Thai, has faced significant setbacks, including the removal of two prime ministers by the constitutional court and the imprisonment of its founder, Taxen Shinawat. Despite these difficulties, supporters remain passionate, as evidenced by a rally where Thai flags waved vigorously. The current leader, Anat Chanakun from the Bumjay Thai party, faces a tough start, battling natural disasters and a war with Cambodia, yet his popularity appears unaffected among the crowd.
The Rise of the People’s Party
The People’s Party, which secured the most seats in the last election and currently leads in polls, champions a reform agenda that resonates deeply with voters. However, the party faces opposition from Thailand’s powerful establishment and has been dissolved twice in just six years. Their leader emphasizes that with no senator influence, this election represents a genuine chance for the people to reshape the country’s future through their votes.
Voter Concerns and Economic Woes
A unifying issue among Thai voters is the economy, which has stagnated, causing frustration as neighboring countries advance. Citizens seek urgent improvements in livelihoods and hope for a stable government to address these issues. Many express disillusionment, feeling that the current system benefits the wealthy at the expense of ordinary citizens. Despite the desire for stability, Thailand’s recent history of frequent elections and changing prime ministers highlights the challenge of achieving lasting political stability.
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