Mumbai: AceVector, the parent company of Indian e-commerce firm Snapdeal, made a weak stock market debut on Monday, with its shares listing at a steep discount to the issue price after a ₹420 crore initial public offering.
The stock debuted at ₹28.32 on the NSE against an offer price of ₹32 — a discount of 11.5%, Reuters reported. The IPO raised over $50 million last week.
Issue details
According to NDTV Profit, the ₹420 crore issue was priced in a ₹30–32 per share band and was subscribed 4.93 times, signalling reasonable investor demand during the bidding window that did not carry over to listing day.
Weak debuts have been a recurring theme for Indian new-age listings, where rich valuations at the IPO stage often meet cooler sentiment once trading begins.
Four mainboard listings in a day
AceVector was one of four mainboard listings on Monday, alongside Runwal (₹500 crore), Orient Cables (₹552 crore) and German Green Steel (₹303.90 crore) — together raising ₹1,775.90 crore, NDTV Profit reported.
The listing-day slide leaves AceVector's management with the task of convincing public-market investors that the Snapdeal group's turnaround story justifies its valuation.
Sources:
Reuters: Snapdeal parent AceVector drops 11.5% in market debut after over $50 million IPO
NDTV Profit: IPO This Week: One SME Issue Opens, Six Mainboard Companies Set To List
The stock debuted at ₹28.32 on the NSE against an offer price of ₹32 — a discount of 11.5%, Reuters reported. The IPO raised over $50 million last week.
Issue details
According to NDTV Profit, the ₹420 crore issue was priced in a ₹30–32 per share band and was subscribed 4.93 times, signalling reasonable investor demand during the bidding window that did not carry over to listing day.
Weak debuts have been a recurring theme for Indian new-age listings, where rich valuations at the IPO stage often meet cooler sentiment once trading begins.
Four mainboard listings in a day
AceVector was one of four mainboard listings on Monday, alongside Runwal (₹500 crore), Orient Cables (₹552 crore) and German Green Steel (₹303.90 crore) — together raising ₹1,775.90 crore, NDTV Profit reported.
The listing-day slide leaves AceVector's management with the task of convincing public-market investors that the Snapdeal group's turnaround story justifies its valuation.
Sources:
Reuters: Snapdeal parent AceVector drops 11.5% in market debut after over $50 million IPO
NDTV Profit: IPO This Week: One SME Issue Opens, Six Mainboard Companies Set To List
