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IPO-Bound AceVector Nets ₹189 Cr From Anchor Investors

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IPO-Bound AceVector Nets ₹189 Cr From Anchor Investors

Snapdeal parent AceVector has raised ₹189 Cr from anchor investors ahead of the opening of its initial public offering (IPO) tomorrow (September 25).

The company allotted 5.91 Cr shares to anchor investors at ₹32 apiece, the upper end of its IPO price band.

Only two domestic mutual funds — Helios Mutual Fund and Taurus Ethical Fund — participated in the anchor round, together picking up 93.75 Lakh shares, or 15.87% of the allocation. Helios acquired 62.48 Lakh shares through two schemes, while Taurus bought 31.25 Lakh shares worth ₹10 Cr.

Negen Undiscovered Value Fund, a Category III AIF operated by Negen Investment Trust, was the largest anchor investor, picking up 1.25 Cr shares, or 21.16% of the round, for ₹39.99 Cr. Singularity Growth Opportunities Fund II invested ₹26.99 Cr, while TIMF Holdings acquired 15.63 Lakh shares.

With the anchor round completed, AceVector’s ₹420 Cr IPO will open for public subscription on September 25 and close on September 29. The company is expected to list on the stock exchanges on October 5.

The IPO values the Snapdeal and Unicommerce parent at ₹1,741.4 Cr and comprises a fresh issue of shares worth ₹287 Cr and an offer for sale (OFS) of 4.16 Cr shares.

The public issue marks AceVector’s second attempt to list after its earlier plans were shelved in 2022.

23 Cr shares in the company’s draft prospectus. Starfish I is part of AceVector’s promoter group.



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