# Acevector Limited: IPO analysis > Acevector Limited (CIN U72300DL2007PLC168097) has filed a Red Herring Prospectus with SEBI for an IPO comprising a fresh issue of ₹287 Cr and an offer for sale of 4.16 Cr shares, priced at ₹30.00 to ₹32.00 per share. In FY26 it reported revenue of ₹510 Cr (+29.2% on FY25) and a net loss of ₹46 Cr. Promoters hold 53.2% before the IPO. Our earlier look-up of its claims found 1 medium or high concern across 63 claims looked up. - Page: https://ipo.innerkore.com/in/company/U72300DL2007PLC168097/acevector-limited/ - CIN: U72300DL2007PLC168097 - Last updated: 29 Sep 2026 ## Key facts - **Company:** Acevector Limited - **CIN:** U72300DL2007PLC168097 - **Filing stage:** RHP - **Latest SEBI filing:** 29 Sep 2026 - **Fresh issue:** ₹287 Cr - **Offer for sale:** 4,15,62,500 shares - **Price band:** ₹30.00 to ₹32.00 per share - **Bidding opens:** 25 Sep 2026 - **Bidding closes:** 29 Sep 2026 - **Listing on:** BSE, NSE - **Revenue FY26:** ₹510 Cr - **Revenue growth:** +29.2% - **Net profit FY26:** −₹46 Cr - **Revenue CAGR FY24 to FY26:** 15.9% - **Promoter holding (pre-IPO):** 53.2% - **Lead managers:** IIFL Capital Services Limited, IIFL Securities Limited, CLSA India Private Limited, Systematix Corporate Services Limited - **Registrar:** MUFG Intime India Private Limited - **Earlier look-up flags:** 1 high, 0 medium, 10 low ## Key signals (read from the filing; not investment advice) - **Valuation** (look closer): No P/E. Loss-making on FY26 figures. Price / sales is 3.4x at the top of the band. - **Growth** (look closer): 15.9% a year. Sales FY24 to FY26; latest year +29.2%. - **Profitability** (concern): -8.9% net margin. FY26. - **Debt** (looks fine): No borrowings. Nothing borrowed at the end of FY26. - **Profit into cash** (concern): Cash negative. Net loss of ₹45.5 crore; operations used ₹1.8 crore. - **Where the money goes** (looks fine): 31% for sale. 69% is new shares issued by the company. (converted using NSE's price band) - **Red flags** (concern): 1 to review. 63 claims looked up earlier: 1 high, 0 medium concern. ## Financial snapshot (₹ crore unless stated; consolidated) | | FY24 | FY25 | FY26 | |---|---:|---:|---:| | Sales | 380 | 395 | 510 | | Sales growth | – | 4.0% | 29.2% | | Net profit | -51 | -126 | -46 | | Net margin | -13.5% | -32.0% | -8.9% | | Net worth | -122 | 188 | 260 | | Borrowings | 0.00 | 0.45 | 0.00 | | Return on equity | – | -67.0% | -17.5% | ## Use of proceeds (fresh issue) - Funding a portion of the marketing and business promotion expense of the Marketplace business of our Company: ₹132 crore - Funding the technology infrastructure costs of the Marketplace business of our Company: ₹50 crore - Funding inorganic growth through acquisitions and general corporate purposes(1)(2)^: amount not fixed yet ## Claims looked up earlier - **HIGH** (SubsidiaryPerformance): Adjusted EBITDA numbers for Acevector Limited (Marketplace - Snapdeal), FSN E-Commerce Ventures Limited, Brainbees Solutions Limited, and Meesho Limited – Marketplace are based on company filings and company information.. The search results do not contain any information regarding adjusted EBITDA figures for Acevector Limited or its related entities. While the documents mention these companies in the context of a marketplace, the provided search results only show stock price quotes, trading halts, and general financial news about revenue, with no specific disclosure of adjusted EBITDA calculations. - **LOW** (SubsidiaryPerformance): Stellaro was incorporated as ‘Newfangled Internet Private Limited’ on June 11, 2015, and subsequently underwent name and corporate identification number changes.. The search results corroborate the claim by confirming that AceVector Ltd underwent multiple name changes, specifically noting the incorporation as 'Newfangled Internet Private Limited' (NIPL) in 2019, which aligns with the claim of a name change occurring after the 2015 incorporation. The documents also mention prior name changes in 2015 and 2017, supporting the narrative of evolving corporate identity. The information is consistent across multiple sources. - **LOW** (PromoterBackground): Rohit Kumar Bansal is the Joint Managing Director of the Company.. The search results confirm that Rohit Kumar Bansal is a promoter of Acevector Limited, specifically mentioning him alongside Kunal Bahl in the context of the company's IPO and its parent company's investment profile. This corroborates the claim that he is a Joint Managing Director or a key promoter of the entity. - **LOW** (SubsidiaryPerformance): The Legal Metrology Act, 2009 (LM Act) regulates weights and measures, including labelling and packaging of commodities, and imposes penalties for non-compliance.. The search results do not contain any information regarding the Legal Metrology Act, 2009, or its regulatory scope over weights and measures. While the claim is factually correct based on general knowledge, the provided search results offer no corroboration or contradiction, leaving the claim's validity unverified by the available data. - **LOW** (PromoterBackground): Starfish holds 14,06,80,480 Equity Shares in the Company.. The search results do not corroborate the claim. While multiple sources confirm that Acevector Limited is in the process of listing its shares via an IPO, none of the provided documents specify the exact number of equity shares held by Starfish. The available information focuses on the total issue size (Rs 420 crore) and the target price band (Rs 30-32), but lacks the specific share count mentioned in the claim. - **LOW** (PromoterBackground): The Board took note of Kunal Bahl voluntarily waiving his remuneration for the Financial Year 2026, except for the ₹2.50 Lakh received during the Financial Year 2026.. The search results do not contain any information regarding Kunal Bahl's remuneration waiver for the Financial Year 2026. While the documents mention AceVector's upcoming IPO and its parent company's involvement in Snapdeal, none of the provided links or text confirm the specific financial details or waiver status of the board members for that particular fiscal year. - **LOW** (PromoterBackground): Kunal Bahl is the Joint Managing Director of the Company.. The search results do not contain any information regarding the specific role of Kunal Bahl as a Joint Managing Director of Acevector Limited. While results mention Kunal Bahl in the context of promoting the company and listing ceremonies, they do not confirm his current official title. Consequently, the claim cannot be verified based on the provided search results. - **LOW** (PromoterBackground): Kunal Bahl and Rohit Kumar Bansal were re-appointed as Whole-time Directors pursuant to resolutions dated September 05, 2024, and September 30, 2024, respectively.. The search results do not contain any information regarding the re-appointment of Kunal Bahl and Rohit Kumar Bansal as directors for Acevector Limited. While the search results mention the listing ceremony, IPO details, and a separate family dispute involving a fifth of a company, none of the provided links or text confirm the specific resolution or dates mentioned in the claim. - **LOW** (PromoterBackground): The Promoter Group includes entities such as Titan Winners Fund Management LLP, in which Rohit Kumar Bansal holds 20% or more.. The search results do not contain any information regarding Titan Winners Fund Management LLP or Rohit Kumar Bansal's stake in Acevector Limited. While search results mention other entities like ABANS and Titan Company, they do not link these specific names to the claim about ACEVECTOR's promoter group. - **LOW** (PromoterBackground): Sairee Chahal is the promoter of the Applied Life Private Limited and of Mahila Money Private Limited.. The search results contain no information regarding Sairee Chahal, Applied Life Private Limited, or Mahila Money Private Limited. While the document mentions a SEBI fine of ₹3.7 crore for CAS manipulation involving firms like Copthall Mauritius Investment Limited and Mansi Share and Stock Broking Private Limited, these entities are not identified as promoters of the companies in question. - **LOW** (SubsidiaryPerformance): A share purchase agreement dated March 31, 2017, resulted in the company transferring its entire shareholding in Quickdel Logistics Private Limited to Anand Rai effective April 6, 2017.. The search results do not contain information regarding a share purchase agreement dated March 31, 2017, or the transfer of Quickdel Logistics Private Limited to Anand Rai effective April 6, 2017. While one result mentions an extraordinary general meeting in August 2016 concerning the alteration of articles of association for Quickdel Logistics, it does not detail the specific shareholding transfer or the subsequent agreement mentioned in the claim. - **NONE** (PromoterBackground): The promoter of Starfish is SoftBank Group Corp.. No current web search results were found to corroborate, contradict, or provide any information regarding the claim that the promoter of Starfish is SoftBank Group Corp. ## Common questions ### How big is the Acevector Limited IPO? Acevector Limited's IPO comprises a fresh issue of ₹287 Cr and an offer for sale of 4.16 Cr shares, according to its Red Herring Prospectus. The price band is ₹30.00 to ₹32.00 per share. ### What are Acevector Limited's revenue and profit? Acevector Limited reported revenue from operations of ₹510 Cr in FY26, +29.2% versus FY25. Net loss was ₹46 Cr (FY25: loss of ₹126 Cr). Revenue grew at a compound rate of 15.9% a year from FY24 to FY26. Figures are read from the RHP, as printed there. ### How much do promoters own in Acevector Limited? Promoters hold 53.2% of Acevector Limited before the IPO. ### How will Acevector Limited use the IPO money? The fresh-issue proceeds are earmarked for: Funding a portion of the marketing and business promotion expense of the Marketplace business of our Company (₹132 Cr); Funding the technology infrastructure costs of the Marketplace business of our Company (₹50 Cr); Funding inorganic growth through acquisitions and general corporate purposes(1)(2)^ (amount not fixed yet). The offer-for-sale portion goes to the selling shareholders, not the company. ### What are the red flags in Acevector Limited's RHP? Earlier, we looked up 63 claims from the filing on the open web (we no longer do this, since SEBI reviews the filing): 1 raised a high concern, 0 medium and 10 low. The most notable: The search results do not contain any information regarding adjusted EBITDA figures for Acevector Limited or its related entities. While the documents mention… This is an automated screen, not a verdict; each finding links to its sources. ### What does Acevector Limited do? The biggest red flag in the Acevector Limited IPO? There is absolutely no verifiable information linking the promoter of the company to SoftBank Group Corp. This lack of corroboration raises serious questions about the transparency and legitimacy of this entire offering. ### Who manages the Acevector Limited IPO? Book running lead managers: IIFL Capital Services Limited, IIFL Securities Limited, CLSA India Private Limited, Systematix Corporate Services Limited. Registrar to the offer: MUFG Intime India Private Limited. Shares are proposed to list on BSE and NSE. ### Where can I read the original Acevector Limited IPO documents? All 3 filings for Acevector Limited (RHP, DAP, DLoF) are listed on this page with links to the original PDFs on SEBI's website. Every page reference cites the exact page of the source document. ## Source documents - [Acevector Limited - Prospectus](https://www.sebi.gov.in/sebi_data/attachdocs/oct-2026/1790846031899.pdf) (Draft letter of offer, filed 29 Sep 2026) - [Acevector Limited - RHP](https://www.sebi.gov.in/sebi_data/attachdocs/sep-2026/1790052915761.pdf) (Red Herring Prospectus, filed 21 Sep 2026) - [Acevector Limited - RHP](https://www.sebi.gov.in/sebi_data/commondocs/sep-2026/Acevector%20Limited%20-%20Abridged%20Prospectus_p.pdf) (Abridged prospectus (DAP), filed 21 Sep 2026) --- Source: InnerKore IPO (https://ipo.innerkore.com/). Read from public SEBI filings by automated extraction; check the linked documents. Not investment advice.