AceVector, the parent company of e-commerce platform Snapdeal, is set to open its IPO for public subscription on September 25. The company has fixed a price band of Rs.30–32 per share and is targeting proceeds of around Rs.420 crore, implying a valuation of up to about Rs.1,741 crore at the upper end.
The issue is smaller than the company’s earlier proposed offering, representing a revised fundraising plan. AceVector’s IPO will provide investors with an opportunity to participate in the company’s listed-market transition as it prepares to enter the public markets.
