Acevector Limited

This section provides an overview of the industry context, drawing data from the 1Lattice Report, and outlines various macroeconomic and consumer trends in India. It details projections for global and Indian economic growth, the impact of infrastructure investments, the role of the 'Make in India' initiative, and the influence of technological advancements on the economy. Furthermore, it discusses shifts in consumer spending, the growth of the retail market, and the evolving landscape of online shopping in India.

The Indian retail market is shifting towards discretionary categories, with fashion projected to grow at a 10.8% CAGR from FY25 to FY30. The market shows distinct offline and online penetration patterns, with offline dominance in food & grocery. Furthermore, the retail market is experiencing structural shifts, with Tier 2+ (urban) and rural regions emerging as high-growth areas. Omni-channel retailing is offered to provide a seamless shopping experience, and the e-commerce market is expanding rapidly. The lifestyle retail segment is a major driver, with the market expected to grow significantly, and consumer choices are shaped by factors like price sensitivity and aspiration.

The analysis of the lifestyle retail market in India shows significant segmentation and growth potential, with fashion being the dominant segment. Fashion accounts for nearly half of the lifestyle retail market, and this segment is projected to maintain its lead. The market is experiencing strong growth driven by rising disposable income, increased online penetration, and changing consumer preferences. Furthermore, the value lifestyle retail segment is expanding rapidly due to structural tailwinds such as rising incomes and urbanization, which are reshaping consumer spending patterns.

The text details the significant growth and evolving landscape of India's e-commerce market, driven by expanding digital penetration and shifting consumer behavior. Key drivers include the growth in internet users, smartphone adoption, and exponential growth in UPI transactions, which are reshaping how consumers shop. The market is expanding beyond metro cities into Tier 2+ (urban) and rural regions, which constitute the largest buying cohort. Furthermore, the market is diversifying across categories, with electronics leading, and a notable shift towards lifestyle products, all while platforms adapt their fulfillment and pricing strategies to cater to price-sensitive, digitally empowered shoppers.

Indian online shoppers prioritize trendiness and product quality within a set budget, often seeking deals and discounts. Consumers blend affordability with aspiration, especially in categories like fashion and beauty, influenced by social media and cultural trends. There is a growing preference for AI-driven, hyper-personalized product recommendations based on behavioral data. Furthermore, the e-commerce fulfilment market is expanding, with declining logistics costs enabling cost-effective last-mile delivery to various regions. Shoppers also show a preference for Cash on Delivery (CoD) for certain categories, and demand for transparent pricing without hidden charges is crucial for building trust and driving conversions.

The text discusses market opportunities driven by the demand from price-sensitive audiences across Tier 2+ (urban) and rural regions, suggesting that D2C models are well-positioned to unlock new growth. Key growth drivers include solving structural market gaps by enabling regional manufacturers to expand their reach, leveraging the low competition from the unorganized market, and achieving cost efficiency through digital distribution. Furthermore, the text highlights the importance of an omnichannel approach to expand market coverage and the role of digital penetration in serving a growing shopper base. The market for e-commerce enablement SaaS is projected for significant growth, with the pre-purchase stage showing the fastest expansion.

The growth in the Indian e-commerce market is fueled by rising customer demand and online orders, which necessitates better marketing and higher conversion rates. The market potential for the order processing stage in India is projected to grow significantly, while the shipping and post-delivery market is also expanding rapidly. To manage the increasing volume and complexity, platforms are investing in automation and experience-enhancing technologies to ensure smooth operations and improve customer satisfaction. Furthermore, the e-commerce enablement SaaS industry shows emerging opportunities, particularly in international markets, and the reliance on such solutions is increasing as sellers expand their product offerings.

The provided text details various operational metrics and financial data for several entities, including e-commerce marketplaces, SaaS providers, and consumer brands. It includes specific definitions for financial metrics like Revenue from Operations, EBITDA, and Adjusted EBITDA, which vary depending on the company being analyzed. The text also outlines market challenges for the marketplace industry, such as thin margins and high user acquisition costs, and challenges for the e-commerce enablement SaaS industry, including integration complexity and pricing pressure.

AceVector operates a digital commerce ecosystem that includes data, technology, and AI-driven businesses across various segments. The ecosystem comprises a value e-commerce marketplace (Snapdeal), an e-commerce enablement SaaS suite (Uniware, Convertway, and Shipway under the Unicommerce brand), and a consumer brands retailing business (Stellaro Brands). These businesses cover the entire e-commerce value chain, serving both B2C and B2B stakeholders through online and offline channels. The company leverages a combination of scaled and emerging platforms to generate diverse revenues.

The company believes its extensive set of 353 integrations positions Unicommerce as a key enabler for clients, helping to improve order accuracy, enhance fulfillment efficiency, and optimize growth. The company has developed Stellaro Brands to incubate and scale consumer brands across online and offline channels, currently operating 19 omnichannel retail stores for the women’s ethnic wear brand Rangita. The business model supports micro, small, and medium enterprises by facilitating the sale of locally manufactured products and providing automation to help D2C brands and regional manufacturers scale. The company emphasizes asset-light operations, minimal working capital risk, and deriving operating leverage through centralized governance frameworks. Furthermore, the company supports organic expansion and select acquisitions, such as the evaluation for acquiring Shipway Technology Private Limited to add complementary solutions to its portfolio.

The value lifestyle e-commerce sector in India is experiencing significant growth, projected to expand substantially over the next five years. This growth is fueled by an increasing number of value-conscious shoppers who exhibit unique purchasing behaviors. The platform has refined its value proposition to align with these shoppers by offering value-pricing, a wide assortment, and an easy shopping journey. The platform focuses on lifestyle categories such as fashion, home, general merchandise, and beauty and personal care. The seller ecosystem is composed of small and medium enterprise merchants who understand the preferences of value-conscious consumers.

The company operates a multi-modal customer support system utilizing AI across various channels and supports agents with a unified customer view to enhance issue resolution speed and accuracy. The company's proprietary technology stack is designed to improve customer experience while optimizing costs for value-conscious customers. AceVector manages a digital commerce ecosystem through three growth engines: Snapdeal (marketplace), Unicommerce (e-commerce enablement SaaS), and Stellaro Brands (consumer brands). The company has demonstrated the ability to scale businesses within India's e-commerce ecosystem by integrating complementary assets and capitalizing on strategic acquisitions. The company has a history of supporting Unicommerce with strategic guidance, capital discipline, and ecosystem partnerships to expand its product suite and maintain financial discipline.

The company intends to focus investments on introducing next-generation AI technologies to improve customer experiences, enhance product discovery through AI-driven personalization, and boost operational efficiencies. They also plan to execute strategic marketing and brand-building initiatives to increase brand awareness among new consumer segments. The company aims to leverage scale to improve fulfillment efficiencies, reduce marketing costs through AI, maintain stable fixed costs for operating leverage, and reinvest cost savings into growth. The strategy involves converting new users into repeat customers to drive sustainable growth.

AceVector operates as an end-to-end value e-commerce platform, focusing on capital efficiency, margin expansion, and long-term defensibility across its various businesses. The company aims to foster inclusive economic growth by bridging the digital divide between urban and rural India. The platform offers a wide selection of products across diverse lifestyle categories, including fashion, home goods, beauty, and personal care. The company leverages technology, data analytics, and in-house merchandising capabilities to curate trends and enhance the user experience through personalized features and content. Furthermore, AceVector actively works with and onboard sellers, primarily local and regional brands, to facilitate their e-commerce journey.

The company facilitates product delivery across India by contracting with Third-Party Logistics (3PLs), having served a significant portion of the country through these partners. The company manages various customer and seller complaints related to its platform operations, and it has a history of resolving disputes with sellers without incurring losses. The platform offers comprehensive features for sellers, including listing management, quality communication regarding user ratings, promotional tools, and integrated services for order processing and payments. Logistics services are asset-light, relying entirely on 3PLs, and the company utilizes various service providers for customer support, marketing, and payment processing. Furthermore, the company employs advanced technology, including data analytics, to inform marketing and pricing strategies, and maintains strict policies for data security and privacy.

The issuer offers a modular suite of products, including Uniware, which provides various features for inventory management, order processing, and vendor management, available in seven countries outside India. Key products include a Warehouse and Inventory Management System (WMS), a Multi-Channel Order Management System (OMS), an Omni-Channel Retail Management System (Omni-RMS), a Seller Management Panel for Marketplaces, and UniReco for payment reconciliation. Shipway is a multi-channel courier aggregation and logistics automation platform, and Convertway is a marketing automation platform for improving e-commerce website conversion rates. Stellaro Brands focuses on incubating and scaling consumer brands, currently managing the women's ethnic wear brand Rangita, involving design, procurement, warehousing, online distribution, and omnichannel store operations across multiple cities.

The provided text details various aspects of the company's operations, governance, and compliance framework, including employee welfare and intellectual property holdings. The company engages in community support through partnerships with NGOs and maintains robust policies concerning employee conduct and anti-corruption. The text also outlines the legal landscape relevant to the business, referencing numerous Indian laws and regulations pertaining to IT, payments, data protection, and e-commerce. Furthermore, it specifies the company's physical presence, which is primarily through leased premises, and details various insurance coverages.

The section details a complex framework of Indian laws and regulations that govern various aspects of business operations, including food safety, trade practices, intellectual property, foreign investment, competition, taxation, and environmental compliance. It outlines numerous acts and rules that dictate standards for manufacturing, labeling, contracts, and market conduct. Furthermore, it specifies various labour laws applicable to the company's operations and the regulations concerning the import and export of goods.

The company's history began with its incorporation as Jasper Infotech Private Limited on September 12, 2007, in New Delhi. The company underwent several name and conversion changes, including a name change to Snapdeal Private Limited in February 2019, followed by a conversion to a public limited company and a subsequent name change to Snapdeal Limited. Later, the name was changed again to Acevector Limited in December 2022. The company has also had several changes to its registered office location over several years. The company's Memorandum of Association has seen numerous amendments regarding authorized share capital and the deletion of certain business objects. The company has also been involved in various material transactions, including acquisitions and divestments of stakes in other entities.

The section details various assurances regarding the company's operations, including the absence of time and cost over-runs, defaults in borrowings, lockouts or strikes, and accumulated profits/losses of subsidiaries. It also outlines the existence of various shareholder agreements, including a comprehensive Shareholders’ Agreement, and subsequent letter agreements that have involved the waiver of certain rights by investors. Furthermore, the text discusses agreements related to indemnification and various securities subscription agreements that have resulted in the allotment of equity shares.

The section details the shareholding pattern of Stellaro and its stepdown subsidiary, Shipway Technology Private Limited. Shipway is a subsidiary of Unicommerce, with Unicommerce acquiring a significant stake through various agreements. Key events include the incorporation of Shipway and subsequent share purchase agreements and allotment processes involving Unicommerce and Shipway shareholders. The text also clarifies the lack of common pursuits or conflicts of interest between the subsidiaries and the company.

The document defines various terms and abbreviations used in the Prospectus. It specifies that the company is Acevector Limited, a public limited company incorporated under the Companies Act, 1956, with its registered office in New Delhi. The definitions cover various agreements, directors, key personnel, and investor types involved in the offering process.

This section defines various terms related to the offering process, including different types of bidders, various accounts, and key financial/operational metrics. It specifies that the Fresh Issue involves a fresh issue of 8,96,87,500 Equity Shares with a face value of ₹1 each, aggregating to ₹287.00 Crore. The company undertook a Pre-IPO Placement aggregating ₹13.00 Crore, which was less than 20% of the Fresh Issue size, and details regarding the pricing and intimation of this placement are provided. The offer involves a mix of different bidder categories, including Retail Individual Bidders (RIBs), Qualified Institutional Buyers (QIBs), and Non-Institutional Bidders (NIBs).

This section primarily defines various financial and operational terms used in the prospectus. It includes definitions for various business segments such as Marketplace, Consumer Brands, and SaaS, along with metrics like revenue from operations, EBITDA margins, and various customer and unit metrics. It also defines different types of clients, such as Enterprise and SMB clients, and various industry-specific terms like FMCG and F&B. The definitions cover aspects related to transactions, assets, and financial reporting standards.

This section primarily defines various terms used within the Prospectus, including legal entities, financial concepts, and currency references. It specifies that references to India and its territories pertain to the Republic of India and its possessions, and references to the US pertain to the United States of America and its territories. It details the financial years and the sources for financial data, noting that financial information is derived from restated consolidated statements prepared under various accounting standards. The text also covers conventions regarding the presentation of data, the use of different currencies, and the reliance on third-party industry reports for market data.

This section discusses the nature of forward-looking statements, cautioning investors that actual future gains or losses may differ materially from estimates, as these statements are not a guarantee of future performance. The statements are based on the management's current views and assumptions, which are subject to inaccuracy. Furthermore, the company and its affiliates have no obligation to revise these statements after the prospectus date or reflect subsequent events. The company and the BRLMs are required to inform bidders in India of material developments related to statements and undertakings confirmed by the company and selling shareholders.

The offering involves a total of ₹13,12,50,000 Equity Shares with a face value of ₹1 each, aggregating to ₹420.00 Crore. This total is comprised of a Fresh Issue of 8,96,87,500 shares and an Offer for Sale of 4,15,62,500 shares. The Offer is further broken down into various portions, including QIB and Non-Institutional categories, with specific allocations reserved for different bidder types. The document details the authorization process for the offer and the respective participation of various selling shareholders.

This section details the cash flows, contingent liabilities, and related party transactions for the financial years ending March 31, 2026, 2025, and 2024. The cash flow data shows various operating, investing, and financing activities, including changes in working capital and cash balances. Contingent liabilities include claims against the group not acknowledged as debts, and related party transactions involve director fees, employee benefits, and share-based payment expenses with various individuals and entities.

This section details various transactions eliminated on consolidation for the year, categorized by the nature of the transaction and the relationship between the parties, as per Ind AS 24 and SEBI ICDR Regulations. It covers cross-charges, loan transactions, security deposits, and the issuance and conversion of equity shares between the company and its subsidiaries and related parties. Furthermore, it outlines several terms and conditions regarding payments to directors, compensation for key managerial personnel, and various agreements such as sub-lease and common service agreements.

This section details the various parties involved in the issuance process for the company's offering, including the book running lead managers, the registrar, legal counsel, and statutory auditors. It also outlines the allocation of responsibilities among the book running lead managers for different activities related to the prospectus and offering process. Furthermore, it specifies the monitoring agency appointed to oversee the utilization of gross proceeds and clarifies that no credit rating was required for this equity share offer.

This section details various regulatory and procedural aspects related to the offer, including the absence of a green shoe option and the identification of designated intermediaries. It outlines specific requirements and lists concerning Self-Certified Syndicate Banks (SCSBs), UPI bidders, Syndicate branches, Registered Brokers, and Registrar/Share Transfer Agents. Furthermore, it specifies the process for book building, the determination of the offer price, restrictions on bidders, and the framework for the Underwriting Agreement with various underwriters.

This section details the authorized share capital structure, including various classes of preference shares, and the issued, subscribed, and paid-up share capital before and after a recent offer. It also provides extensive historical data on the allotment and conversion of equity shares over several years, including various rights issues, buybacks, and ESOP schemes. Furthermore, it outlines the process and consent obtained from selling shareholders for an offer for sale of equity shares.

This section details various allotments of equity shares across different series, including conversions from various CCCPS series into Equity Shares. The allotments occurred on different dates and involved numerous allottees, including entities such as Starfish I Pte. Ltd., Nexus India Direct Investments II, and various private limited companies. The data shows the allotment of shares across different types of funds and entities, with cumulative paid-up equity share capital being tracked.

This section details various allotments of equity shares across different dates and under different schemes, including conversions of warrants and various Employee Stock Option Plans (ESOP) allotments. The data shows numerous transactions involving different allottees and the resulting cumulative paid-up equity share capital. Specific allotments are noted for entities such as Aquila Investments I (Mauritius) Ltd, various funds, and individuals, with the total paid-up capital accumulating over time.

This section details various allotments of equity shares, including the number of shares allotted, face value, issue price, and the nature of the consideration for different allottees. The data spans multiple allotments, with some entries indicating cumulative share capital. A significant event is noted on September 15, 2025, where a large number of equity shares were allotted pursuant to an ESOP scheme.

This section details various allotments of equity shares, including those under ESOP schemes, and disclosures related to pre-IPO placements. It outlines the details of share allotments by various individuals and specifies the consideration paid for these allotments. Furthermore, it mentions that the company has complied with relevant provisions of the Companies Act, 2013, and has not had more than 200 shareholders in any financial year since incorporation. The text also covers secondary transactions of equity shares by promoters and members of the promoter group.

This section details various historical transfers of equity shares, including transactions involving different parties and dates. It also presents the shareholding pattern of the company as of the date of the Prospectus, showing the distribution among top shareholders. The data includes percentages of pre-offer and post-offer capital, calculated on a fully diluted basis, and also shows holdings ten days prior to the filing date.

The section details various shareholding structures, including both pre-offer and post-offer percentages, for different shareholders. It presents data on the shareholding of various entities, including promoters and additional top 10 shareholders, as well as the shareholding of the promoter group. Furthermore, it outlines the history of share capital held by the promoters, showing transactions such as allotments, sales, and bonus issues over time.

The section details various provisions regarding the lock-in of promoter shareholding and the procedures related to the issuance of equity shares. It outlines that an aggregate of 20% of the fully diluted post-Offer Equity Share capital held by Promoters shall be locked in for 18 months, or a shorter period as prescribed by SEBI ICDR Regulations for promoter's contribution. Furthermore, it specifies conditions under which certain equity shares are not eligible for the Minimum Promoter's Contribution, such as those acquired recently or those resulting from bonus issues. The document also discusses various lock-in requirements concerning the entire pre-Offer equity share capital and provisions related to the transferability and pledging of these shares.

The section details various aspects of the company's capital structure, including the details of equity share acquisitions by promoters and selling shareholders over the last three years. It also outlines provisions related to employee stock option schemes, including the details of ESOP 2011 and ESOP 2012, and various compliance statements regarding capital structure changes and transactions.

This section details various particulars related to the capital structure, including employee stock option schemes (ESOP 2016) and various financial metrics. It covers the comparison of different financial years for various metrics, such as the number of equity shares, options granted, and options vested. The text also discusses the methodology used for valuing stock options, including the Black-Scholes model, and the impact of accounting policies on earnings per share. Furthermore, it addresses the intention of key managerial personnel and directors to sell equity shares following option exercise.

The Offer comprises both a Fresh Issue and an Offer for Sale. The proceeds from the Offer for Sale will not be received by the Company and will not be part of the Net Proceeds. The Fresh Issue resulted in gross proceeds of ₹287.00 Crore, with fresh issue expenses of ₹34.08 Crore, leading to net proceeds of ₹252.92 Crore. The company undertook a Pre-IPO Placement, which was reduced from the Fresh Issue size and its proceeds were utilized towards general corporate purposes. The Net Proceeds are proposed for various uses, including marketing, technology infrastructure, and inorganic growth through acquisitions and general corporate purposes.

The company intends to utilize up to ₹50.00 Crore of the net proceeds for technology infrastructure costs for the Marketplace business, which will be deployed over the next three financial years. This funding is intended to cover costs related to database solutions, application deployment, orchestration tools, caching, search services, and generative artificial intelligence-based services. The remaining net proceeds are proposed for inorganic growth through unidentified acquisitions and general corporate purposes, subject to certain limits on the amount utilized.

This section details various fees and charges related to the offer process, including processing fees for different types of bidders, with certain limits specified. It outlines different fee structures for UPI bidders and specifies responsibilities for payments to third parties. Furthermore, it discusses the utilization of net proceeds, the prohibition on using funds for trading in other equity shares, and monitoring mechanisms for the utilization of gross proceeds.

The provided section details various Key Performance Indicators (KPIs) used to assess the company's financial and operating performance, categorized into SaaS and Marketplace segments. It presents historical data for key metrics such as revenue, income, EBITDA, and customer counts for both segments across different financial years. The text also includes definitions for these KPIs and notes on how they are used for analysis, emphasizing that they are supplemental tools and not a substitute for audited financial statements. Furthermore, the section compares these KPIs against listed industry peers, noting that direct comparisons are not always possible due to differences in business models.

The provided text discusses various aspects related to the offer, including past transactions and special tax benefits available to the company and its shareholders. It details criteria for calculating weighted average cost of acquisition for primary and secondary issues, and outlines specific provisions under the Income-tax Act concerning corporate tax rates, deductions for new employee costs, inter-corporate dividends, and buybacks. Furthermore, it covers tax implications for capital gains arising from the transfer of equity shares and various provisions related to tax benefits for different categories of shareholders.

This section details various special tax benefits available to the Company under direct taxation laws. These benefits include the option to opt for a lower corporate tax rate under Section 115BAA of the Income-tax Act, 1961, which comes with certain restrictions on claiming exemptions and depreciation. Furthermore, the Company has availed a lower tax rate as prescribed under Section 115BAA, which impacts the ability to claim certain deductions and set-offs of brought forward losses. Additionally, there are provisions allowing for deductions related to the employment of new employees and deductions for inter-corporate dividends.

The provided text discusses various special direct and indirect tax benefits available to the Company and its shareholders under Indian tax laws. It outlines certain provisions related to corporate tax rates, deductions for employee costs and inter-corporate dividends, and eligibility for GST refunds on zero-rated supplies. The document emphasizes that the annexures provide summary information and are not a substitute for professional tax advice, with investors being advised to consult their own tax consultants.

This section details the examination performed by the independent auditor on the restated consolidated summary statements of Acevector Limited and its subsidiaries for the years ended March 31, 2026, March 31, 2025, and March 31, 2024. The examination was conducted in accordance with various legal and regulatory requirements, including those of the Companies Act, ICDR Regulations, and the Guidance Note on Reports in Company Prospectuses. The auditors relied on the audited Ind AS consolidated financial statements of the Group and the financial statements of its subsidiaries. The auditors confirmed that the subsidiary statements were prepared retrospectively to reflect changes in accounting policies and regroupings.

This section provides a restated consolidated summary of the company's financial position, including the statement of profit and loss, cash flows, and changes in equity for three fiscal years ending March 31, 2026, March 31, 2025, and March 31, 2024. The financial statements detail various line items such as assets, liabilities, income, expenses, and cash movements. The data covers key aspects of the company's performance and financial structure over the period.

This section outlines the material accounting policies and other explanatory information for Acevector Limited, detailing the basis of preparation for its financial statements. The Group operates in direct marketing, sales promotion, warehousing, and e-commerce solutions. The financial information is presented in Indian Rupees (Rs. million), and the statements are prepared on a going concern basis. The policies cover business combinations, current versus non-current asset and liability classification, foreign currency translations, and revenue recognition principles.

This section details various accounting policies for Acevector Limited, covering revenue recognition, interest income, SaaS revenue, incentive scheme income, contract balances, tax provisions, and various asset and liability treatments. It outlines specific methodologies for recognizing revenue, handling discounts, and dealing with various financial instruments and contracts. Furthermore, it specifies policies for dealing with deferred tax assets and liabilities, current income tax, and provisions for onerous contracts and contingent liabilities.

This section details various accounting policies and disclosures related to financial statements, including equity settlements, financial assets, financial liabilities, and changes to accounting standards. It covers how various financial instruments are initially recognized and subsequently measured, including different classifications like amortised cost, fair value through OCI, and fair value through profit or loss. Furthermore, it discusses specific amendments to Indian Accounting Standards (Ind AS) concerning liabilities, income taxes, and supplier finance arrangements, noting when these changes will be effective.

This section primarily details various amendments issued by the Ministry of Corporate Affairs (MCA) concerning Indian Accounting Standards (Ind AS) 109 and 107, including clarifications on contracts referencing nature-dependent electricity and changes to the classification and measurement of financial instruments. The company is currently assessing the impact of these amendments on its restated consolidated financial information. Furthermore, the text includes detailed reconciliation statements for equity and loss after tax, as well as various adjustments and regroupings made to the financial statements.

This section details various aspects of Acevector Limited's financial statements, including intangible assets, financial instruments, and trade receivables. It covers the aging of intangible assets, the carrying amount of goodwill recognized from business combinations, and the movement in financial assets such as security deposits, bank balances, and advances recoverable in cash. Furthermore, it provides breakdowns of trade receivables, including their aging and credit impairment status.

This section details various financial line items, including trade receivables aging, cash and cash equivalents, bank balances, other assets, and the movement of various reserves. It provides comparative data for March 31, 2026, March 31, 2025, and March 31, 2024. The data includes breakdowns of different types of trade receivables, cash balances, deposits, and the movement within the equity and other reserves.

This section details various financial liabilities, provisions, and revenue recognition aspects of the company's financial statements. It includes information on payables to various parties, provisions for gratuity and compensated absences, and details regarding revenue from operations, including its components and timing of recognition. Furthermore, it outlines the treatment of revenue from contract with customers, including deferred revenue and trade receivables.

This section details various financial line items for Acevector Limited across three fiscal years, including revenue recognition adjustments, income, expenses, and various operational costs. Key components include revenue reconciliation, interest income, various non-operating income and expenses, depreciation, amortization, finance costs, and other operating expenses. The data spans from the year ended March 31, 2024, to March 31, 2026.

This section details the Corporate Social Responsibility (CSR) expenditure of Acevector Limited across three fiscal years, including various categories such as capital asset creation, other purposes, and contributions to public and charitable trusts. It also provides details on unspent obligations and exceptional items, such as credit losses, legal expenses, and costs related to Initial Public Offering work for a subsidiary listing.

This section details various aspects of the financial statements, including income tax, reconciliation of effective tax rates, and the treatment of employee stock option plans. It presents historical data for income tax expense components, various provisions, and the movement of options granted, forfeited, and exercised across different schemes. It also provides details on the terms and conditions related to the vesting and exercise periods for these stock options.

This section details various aspects of the financial statements, including employee stock option plans and the fair value measurement of financial instruments. It covers the termination of an ESOP scheme and the details of various founder's stock option plans, including the exercise of options. Furthermore, it presents information on the fair value of financial assets and liabilities as of March 31, 2026, 2025, and 2024, along with risk management policies concerning market risk such as interest rate and foreign currency risk.

This section details various aspects of the financial statements, including credit risk, liquidity risk, capital management, and accounting judgements. It outlines the methodology for impairment analysis on trade receivables and contract assets, discusses exposure to market price risk from equity investments, and summarizes the maturity profile of financial liabilities. Furthermore, it covers aspects of capital structure, including net debt, gearing ratios, and provisions for various liabilities and contingent claims.

This section provides details on dues to micro and small enterprises, revenue from operations broken down by business segments (Marketplace, SaaS, Consumer Brands), and various financial metrics for different periods. The data includes segment performance summaries, detailed expense breakdowns, and balance sheet information for the years ending March 31, 2026, 2025, 2024, and 2023. Furthermore, the text details the consolidation of certain subsidiaries and provides information regarding the ownership and control structure of the group.

This section details various related party transactions, including director sitting fees, short-term employee benefits, post-employment benefits, and other long-term benefits, categorized by the relationship with key management personnel and directors. It also lists transactions with various entities, including subsidiaries, fellow subsidiaries, and step-down subsidiaries, covering different financial years. The data includes details on transactions that are eliminated on consolidation, such as cross-charges and loan transactions, as well as balances as of year-end for various financial assets and liabilities.

This section details the restated consolidated financial information for Acevector Limited, including balance sheet summaries, various transactions with related parties, and information regarding subsidiaries. It includes figures for different financial statements as of March 31, 2026, March 31, 2025, and March 31, 2024. Furthermore, it outlines details about lease agreements, including carrying amounts and movements, as well as various accounting treatments and approvals related to managerial remuneration and asset acquisitions.

This section details the acquisition of a stake in Shipway Technology Private Limited, including the financial settlement terms. It outlines the structure of the purchase consideration, noting the split between cash paid and a financial liability to be settled through a share swap. Furthermore, it lists various relationships with companies struck off under relevant sections of the Companies Act, 2013 or 1956.

This section details the outstanding balances owed to various vendors as of March 31, 2026, March 31, 2025, and March 31, 2024, categorized by the nature of the transactions. The data shows various balances ranging from zero to 0.03 million rupees across different counterparties. Several vendors show consistent outstanding amounts, while others have fluctuating or zero balances depending on the year. The data is presented in the context of notes to restated consolidated financial information.

This section details the outstanding balances owed to various struck-off companies as of March 31, 2026, March 31, 2025, and March 31, 2024. The data is presented in a tabular format showing the relationship between the company and these vendors. The data includes various balances ranging from zero to some positive amounts, with some entries showing zero balances across all three periods, and others showing small positive amounts or negative amounts, which are noted as being in Rs. million.

This section details the outstanding balances with various customers and vendors as of March 31, 2026, 2025, and 2024, categorized by the nature of the transactions. The data shows varying levels of outstanding balances across different counterparties, with some balances remaining consistent, while others show fluctuations. The data is presented in Rs. million, except where otherwise specified.

This section details the outstanding balances owed to various vendors as of March 31, 2026, March 31, 2025, and March 31, 2024, categorized by the nature of the transactions. The data shows various relationships with struck-off companies, with some balances remaining consistent across the three years, while others show fluctuations. Several vendors have outstanding balances that have decreased over the period, while others have increased. The data is presented in Rs. million, except where otherwise specified.

This section primarily details the outstanding balances between the company and various vendors/customers as of March 31, 2026, across different years. It lists numerous entities, with some showing zero outstanding balances, while others have small amounts outstanding. The data is presented in a tabular format showing balances for March 31, 2026, March 31, 2025, and March 31, 2024.

This section appears to be the introductory or header information for the financial data presented, specifically mentioning the financial information of Unicommerce ESOLUTIONS Limited for the quarter ending June 30, 2026. The subsequent pages contain the detailed financial statements, which are not fully visible in the provided text snippets.

This section presents the financial performance of the company across various periods, detailing key statements including Profit & Loss, Balance Sheet, and Cash Flow figures. The data covers several fiscal years, allowing for the calculation of growth rates, profitability margins, and leverage metrics. Specific line items such as revenue, EBITDA, net worth, and debt levels are provided for analysis.

The provided section details various accounting ratios derived from restated consolidated financial information for the financial years ended March 31, 2026, 2025, and 2024. It includes calculations for basic and diluted earnings per equity share, return on net worth, net asset value per equity share, and several EBITDA and Adjusted EBITDA metrics. The text also provides detailed reconciliations for these non-GAAP measures, including breakdowns for different segments like Marketplace and SaaS.

This section details the financial performance across different segments for the financial years ended March 31, 2026, 2025, and 2024. It presents various metrics such as revenue, EBITDA margins, and net worth, including segment-specific performance for SaaS and Consumer Brands. The text also provides context on the financial reporting standards used and references external industry reports.

This section details various aspects of the company's operations, including the composition of sales on the Snapdeal platform, the performance of Unicommerce, and the revenue from its consumer brands segment, Stellaro Brands. It provides metrics on the mix of products, the scale of the Unicommerce platform's revenue across different years, the number of clients for Unicommerce's suite, and the revenue generated by Stellaro Brands over the last three financial years. Furthermore, it discusses operational performance metrics like Adjusted EBITDA and the growth projections for the Indian economy.

This section details various aspects related to the company's operations, including the nature of freight and collection fees, the impact of returned units on profitability, and the factors influencing revenue generation. It provides historical data on the percentage of returned units relative to gross delivered units over three financial years. Furthermore, it outlines the components of logistics expenses, such as marketplace fees and fees charged for returns, and discusses the factors affecting cost-effectiveness, including freight charges per delivered unit and marketing expenses. The text also touches upon the revenue derived from the Material Subsidiary, Unicommerce, and the potential for growth within its platform and the Stellaro Brands business.

This section details various accounting policies related to financial statement presentation, including asset and liability classification, foreign currency translation, fair value measurement, revenue recognition, and tax accounting. It specifies criteria for classifying assets and liabilities as current or non-current, outlines how foreign currency transactions are recorded and translated, and describes the methodology for measuring financial instruments at fair value. Furthermore, the text covers detailed recognition criteria for different types of revenue, such as contract revenue, marketing fees, and sales of goods, including the application of a 5-Step Methodology for revenue recognition. Finally, it provides extensive details on the accounting for interest, contract balances, various tax considerations (current and deferred), and the treatment of property, plant, and equipment.

The company faces several material risks, including the potential to incur ongoing losses due to challenges in revenue growth, expense management, and cash flow generation. Risks stem from the dependency on marketing efforts to attract and retain users, the possibility of increased costs for acquiring new users due to competition, and the impact of external factors like changes in advertising platforms or search algorithms. Furthermore, the company operates in a highly competitive industry where rivals can innovate faster, and there are risks related to the quality of products listed by sellers and the ability to cater to diverse user needs.

The company faces several risks related to competition, operational execution, and market dependence. Risks include losing market share due to competitors' advantages, the strain of managing business expansion across multiple segments, and the potential for failure in executing growth strategies. Furthermore, the business is heavily reliant on the growth of the Indian e-commerce industry and the general growth of the internet infrastructure. There are also significant risks concerning data security, compliance with evolving data protection laws, and potential litigation related to the use of open-source software. Finally, the reliability of the technology infrastructure is a concern, as disruptions or capacity issues could negatively impact operations and user base.

The company faces several risks related to technology integration, data security, and performance issues stemming from third-party dependencies. There are also concerns regarding the reliability of statutory audit reports and the potential for future non-compliance. Furthermore, the company is exposed to risks from reliance on external search engines and social media, which can impact traffic and revenue. The business also faces challenges in product innovation, and there are significant legal and reputational risks stemming from pending litigation and public perception.

The section details various legal and regulatory risks, including past criminal and tax proceedings against the company and its promoters, as well as potential future claims from various parties. It highlights issues related to the reliability of historical corporate records and the potential for future litigation arising from business operations, acquisitions, and new product rollouts. Furthermore, the text discusses risks associated with the rapid changes in the industry and technology, the difficulty in integrating acquired businesses, and the potential for regulatory scrutiny regarding investments and acquisitions.

The company faces several risks related to statutory dues, including potential penalties for delays in payments, which could negatively impact its financial condition and cash flows. The business is also exposed to risks from sellers, such as product quality, order cancellations, and returns, which can affect cash flows and operations. Furthermore, the company is vulnerable to disruptions in the supply chain, credit risk from trade receivables, and contingent liabilities arising from customer claims. Risks also exist concerning counterfeit products, intellectual property infringement, and issues related to payment processing and advertising regulations.

The company faces risks related to customer compensation and potential negative impacts on business performance, including the possibility of increased costs due to refund policies. There are concerns regarding legal and regulatory risks stemming from third-party sellers and product compliance, including issues with intellectual property infringement and non-compliance with laws like the Legal Metrology Act. Furthermore, the company is exposed to various operational and technical risks, such as system interruptions, security breaches, and reliance on third-party infrastructure. International expansion also presents challenges related to localization, foreign laws, and competition.

The company faces risks related to intellectual property protection, particularly concerning domain names, which are subject to change by internet regulatory bodies, potentially impacting the ability to use branding. There is also reliance on third-party intellectual property for products, and risks associated with the timely maintenance of such assets. The company is subject to various statutory and regulatory requirements, including obtaining and renewing permits and licenses, with uncertainty regarding future regulations or the timely execution of such applications. Furthermore, there is a dependency on consumer spending, which is vulnerable to macroeconomic downturns, and risks associated with related party transactions. The company also faces risks related to the performance and retention of key personnel, potential issues with the company's culture and values, and potential shortfalls in capital and financing to support operations and growth.

The company faces numerous risks stemming from evolving Indian regulations, including potential changes to e-commerce rules, labour laws, and tax reforms, which could increase compliance costs or affect operations. There is also uncertainty regarding the interpretation and enforcement of these laws. Furthermore, the business is exposed to various catastrophic events, natural disasters, and political instability in India. Foreign exchange risks are present due to import dependencies and future capital expenditures, and the company's ability to raise foreign capital is constrained by Indian laws. Finally, the company's agreements may fall under the purview of the Competition Act, and the uncertainty surrounding the application of various laws and market conditions could negatively impact the business.

The section outlines several risks related to the utilization of offer proceeds, the sustainability of dividends, and the future trading prospects of the equity shares. Risks include potential delays in achieving profitable growth due to various constraints, the inability to guarantee future dividend payments, and the uncertainty surrounding the development and liquidity of a public trading market for the equity shares. Furthermore, the section details various tax implications, restrictions on foreign investment, and potential dilution of ownership due to future equity issuances or sales by major shareholders.

The company's equity shares are exposed to significant fluctuations due to general economic and stock market conditions, which could cause the trading price to fall below the offer price. Furthermore, broad market fluctuations and industry factors can materially reduce the market price of the equity shares irrespective of the company's own performance. There are also concerns regarding the limitations of shareholder rights under Indian law compared to other jurisdictions.

The Board comprises six Directors, including two Joint Managing Directors, one Non-Executive Nominee Director, and three Independent Directors, ensuring compliance with corporate governance norms. The Board details include information on six individuals, including the Chairperson and Independent Directors, the Joint Managing Directors, and the Non-Executive Nominee Director. Various resolutions detail the terms of appointment and remuneration for the Board members and the Joint Managing Directors.

The management section details various aspects of the company's governance, including director remuneration, compensation plans, and contractual arrangements. It specifies that no directors are entitled to deferred compensation for Financial Year 2026, and no bonus or profit-sharing plans exist for the directors. Furthermore, it confirms that no directors have entered into service contracts with the company for benefits upon termination. The section also covers director shareholding, noting that most directors do not hold equity shares in the company, except for Kunal Bahl and Rohit Kumar Bansal, who hold shares in the subsidiary. The text also outlines various conflict of interest disclosures and details the composition and functions of the Audit and Nomination and Remuneration Committees.

The document details the composition of the Stakeholders Relationship Committee and the Risk Management Committee, outlining their respective mandates as per relevant regulations. It also lists various Key Managerial Personnel and Senior Management members, including the CFO, Company Secretary and Compliance Officer, Managing Directors, and Chief Executive Officers, along with their associations, qualifications, and compensation details. Furthermore, the text clarifies that certain personnel are permanent employees and details regarding contingent compensation, conflicts of interest, and payments to officers are provided.

The company's promoters consist of three entities: Kunal Bahl, Rohit Kumar Bansal, and Starfish I Pte. Ltd. Together, these promoters hold 53.24% of the issued equity share capital on a fully diluted basis. Kunal Bahl is the Joint Managing Director of the company, and Rohit Kumar Bansal is also a Joint Managing Director. Details regarding the corporate information and shareholding patterns of Starfish, which is a private limited company incorporated in Singapore, are provided. The document also details various relationships within the Promoter Group, including individuals and entities connected to both promoters, and confirms that no material guarantees were given to third parties.

The section directs readers to consult various documents, including the Restated Consolidated Financial Information, for details on related party transactions, referencing notes on page 365. Regarding financial indebtedness, the company's board is authorized to borrow funds as required by applicable laws. As of August 11, 2026, subsidiaries do not have outstanding borrowings except for the Company itself, which has issued debentures, and a step-down subsidiary, Shipway Technology Private Limited, which has availed two overdraft facilities against fixed deposits with a cumulative sanction amount of ₹2.88 Crore.