Snapdeal parent AceVector files updated prospectus; to raise up to Rs 300 crore via IPO

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AceVector, the parent company of ecommerce platform Snapdeal, has filed its updated draft red herring prospectus (UDRHP) with the Securities and Exchange Board of India (Sebi).

According to the document, the company plans to raise up to Rs 300 crore through a fresh issue, along with an offer for sale (OFS) of up to 6.38 crore equity shares. As part of the OFS, SoftBank and Nexus Venture Partners, among others, will divest part of their holdings. Cofounders Kunal Bahl and Rohit Bansal will retain their entire stakes.

AceVector said it will use the…



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Snapdeal parent AceVector files updated prospectus; to raise up to Rs 300 crore via IPO



AceVector, the parent company of ecommerce platform Snapdeal, has filed its updated draft red herring prospectus (UDRHP) with the Securities and Exchange Board of India (Sebi).

According to the document, the company plans to raise up to Rs 300 crore through a fresh issue, along with an offer for sale (OFS) of up to 6.38 crore equity shares. As part of the OFS, SoftBank and Nexus Venture Partners, among others, will divest part of their holdings. Cofounders Kunal Bahl and Rohit Bansal will retain their entire stakes.

AceVector said it will use the…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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