Acevector IPO(Snapdeal) is a mainboard IPO raising ₹420 Cr at ₹30 – ₹32 a share. It listed on 5 Oct 2026 at ₹28, −11.5% against its issue price of ₹32, and trades at ₹21 today (−34.6% since issue). It was subscribed 4.93× in total.
4.9 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
Read from the 575-page prospectus. Indian prospectuses list hundreds of risk factors, most of them generic boilerplate. These are the 14 specific to this company; 63 generic ones were skipped. Every one is quoted verbatim with its page, so you can check it against the document.
We have incurred restated loss of ₹455.06 million, ₹1,263.06 million and ₹512.97 million in the Financial Years ended March 31, 2026, 2025 and 2024 respectively.
We currently hold 26.13% of the issued and paid-up equity share capital of Unicommerce eSolutions Limited, our material subsidiary... our continued ability to control Unicommerce is contingent upon maintaining these rights and arrangements. Should the terms of our arrangements change... we may no longer be able to consolidate Unicommerce's financial results.
Our Subsidiary, Unicommerce, provides software-as-a-service products to certain companies which are engaged in similar lines of business as that of our Company. These entities may provide comparable services, expand their presence, solicit our employees or acquire interests in competing ventures
our platform, Snapdeal, was also listed in the Review of Notorious Markets for Counterfeiting and Piracy issued by the Office of the United States Trade Representative for the years 2019 and 2020
Net cash flows used in operating activities decreased from ₹548.45 million in Financial Year 2024... to ₹273.47 million in Financial Year 2025 and further decreased to ₹17.97 million Financial Year 2026.
The managerial remuneration for the year ended March 31, 2026 has been paid / provided by our Company and our Subsidiaries, incorporated in India to their directors in accordance with the provisions of Section 197 read with Schedule V to the Companies Act except in case of one Subsidiary the managerial remuneration of ₹1.50 million is in excess of the limits applicable under section 197 of the Companies Act, read with Schedule V thereto.
Ministry of Corporate Affairs ("MCA") has also issued a letter to our Company, Individual Promoters and Directors, directing us to provide MCA with our financial results, statutory registers and copies of our board and shareholders resolutions'. The matter is pending
a complaint from Quickdel Logistics Private Limited ("Complainants") was sent to SEBI with allegations of fraud and misrepresentation against our Company and Individual Promoters
the investment in Smartprix Web Private Limited by our Company was subsequently impaired in our books of accounts... Quickdel has filed a protest petition challenging the said closure report which is currently pending
an injunction has recently been issued vide order dated July 10, 2025, passed by the High Court of Delhi at New Delhi, against the sellers registered on our platform ... the High Court of Delhi has directed our Company to delist such sellers' products from our platform
revenue from operations - marketplace contributed to ₹2,936.75 million, ₹2,498.67 million and ₹2,528.87 million in Financial Years 2026, 2025 and 2024, respectively, which amounted 57.54%, 63.25% and 66.59%, respectively, of our revenue from operations.
The growth trends in the Financial Years ended March 31, 2026, March 31, 2025 and March 31 2024 have not matched the growth of the ecommerce industry. This was largely due to the changes made by us to our seller-margins for our marketplace segment, including reducing the cost of doing business for sellers by passing on operational efficiencies and lowering seller margins.
our Joint Managing Directors in the past have received communications from the Reserve Bank of India relation to the late submission of Forms FC-TRS... our Joint Managing Directors have re-filed the Form FC-TRS with a late submission which has been approved by the RBI
We are unable to trace certain letter of offers in respect of equity and preference shares allotted to shareholders in the past... We have been unable to trace the valuation report for the divestment in Vulcan Express
Extracted from the issuer’s own prospectus and ranked by how specific and material each risk is to this company. Severity is our assessment of the disclosure, not a prediction — and nothing here is a recommendation to apply to this issue.
The issuer’s own summary of outstanding legal proceedings — SEBI requires this table in every prospectus. Counts and amounts are as disclosed.
| Against | Criminal | Tax | Other material | Amount at stake |
|---|---|---|---|---|
| The company | 8 | 12 | 7 | ₹57 Cr |
| Promoters | 3 | 3 | 0 | — |
| Directors | 3 | 3 | 0 | — |
| Subsidiaries | 3 | 8 | 0 | ₹1.5 Cr |
Income Tax AY 2022-23: disallowance of business expenditure of ₹1,597.28 million (~₹159.73 crore); Company appeal pending before CIT(A)
Income Tax AY 2018-19: disallowance of business expenditure of ₹621.66 million (~₹62.17 crore); Company appeal pending before CIT(A)
Khaitan India Ltd v Company: trademark infringement civil suit, damages of ₹500 million (₹50 crore) at 18% p.a. interest; pending before High Court of Calcutta
Income Tax AY 2023-24: disallowance of business expenditure of ₹459.59 million (~₹45.96 crore); Company appeal pending before CIT(A)
Subsidiary Stellaro Brands v Pious Fashion: criminal complaint for cheating/fraud, outstanding ₹26.75 million (~₹2.68 crore); pending at Tis Hazari Courts, Delhi
Amounts stated in ₹ million in the prospectus; converted to crore at 1 crore = 10 million. The only explicit SEBI-style summary table provided is the Tax Proceedings table on p481; criminal/other counts are tallied from the narrative enumeration of individually disclosed proceedings (no consolidated criminal/civil summary table exists in this section). Company bucket: criminal 8 = 3 in 'Outstanding criminal proceedings' against Company (Aegean Infotech FIR 2017, Monopoly Carriers FIR 2017, State of Karnataka SLP) + 4 criminal matters within 'D. Others' (Karan Bathla IT Act s.66, Ashish Patankar IPC ss.420/406/409/34, Vevek Pratap Singh IPC ss.420/406/467/468/471, Drugs & Cosmetics Act Raigad) + 1 filed by Company (Shashank Shukla recovery ₹4.36M); tax 12 = 6 direct (Nil amount) + 6 indirect (₹32.86M); other 7 = 1 material civil (Khaitan India, ₹500M) + 4 regulatory actions (CCPA pressure cooker penalty ₹0.1M, PPCB plastic-waste letter, NGT/Hariyali application, CCPA toys penalty ₹0.5M) + 2 in D. Others (MCA s.206(5) letter to 5 directors, MediaAgility pre-litigation notice ₹34.97M). Company amount_cr aggregates Khaitan ₹50 cr + MediaAgility ₹3.497 cr + indirect tax ₹3.286 cr + Shashank Shukla recovery ₹0.436 cr (excludes 72 separate consumer complaints totaling ₹0.72M). Promoters/Directors sections cross-reference the Company's criminal proceedings naming Bahl/Bansal/Gupta. Subsidiaries: 3 criminal cases filed by them (Stellaro vs U Love Fashion settled; Unicommerce vs Vivoiz Healthtech ₹2.99M cheque dishonour; Stellaro vs Pious Fashion ₹26.75M fraud); no litigation against them; tax 8 = 4 direct (₹0.70M) + 4 indirect (₹14.14M). Group companies: no litigation disclosed (only identified are Inversion Advisory Services Pvt Ltd and PH91 Pvt Ltd per p487). Grand total amount not stated in prospectus.. Outstanding means unresolved — a listed case is an exposure, not a verdict.
What the issuer and the exchanges published. Everything else on this tab is read out of these.
The full prospectus — business, financials, risk factors and litigation.
Which institutions were allotted shares before bidding opened, and how many.
Where physical applications could be submitted.
The issuer's own "basis of issue price": the earnings multiples it is asking for, and the peer companies it chose to compare itself against.
The full prospectus — business, financials, risk factors and litigation.
