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SoftBank-backed AceVector Ltd has submitted updated draft papers to Sebi for its proposed initial public offering (IPO), featuring a fresh issue of shares worth Rs 300 crore alongside a significant offer for sale (OFS) by existing shareholders.

According to the updated draft red herring prospectus, the OFS will involve 6.38 crore shares offloaded by current investors, including promoter entity Starfish I Pte Ltd, Nexus, Wonderful Star Pte Ltd, Kenneth Stuart Glass, Jason Ashok Kothari, Priyanka Shreevar Kheruka, Rupen Investment and Industries, and Centaurus Trading and Investments.

AceVector’s founders Kunal Bahl and Rohit Bansal, who jointly hold 34.63 per cent stake through individual holdings and B2 Professional Services LLP, will not participate in the share sale. However, promoter entity Starfish, which owns 30.68 per cent, will divest part of its stake.

The IPO proceeds are aimed at strengthening the company’s technology infrastructure, supporting marketing and brand-building for Snapdeal, driving inorganic growth through acquisitions, and addressing general corporate purposes. AceVector operates Snapdeal, the value-focused lifestyle marketplace; Unicommerce, an e-commerce enablement SaaS platform; and Stellaro Brands, an omnichannel consumer brands vertical.

For H1 FY26, the Gurugram-based firm posted operating revenue of Rs 244 crore, marking a 34 per cent rise from Rs 181 crore in the same period last year. The company also significantly reduced its adjusted EBITDA loss to Rs 9.2 crore from Rs 28 crore. AceVector had initiated its IPO plans under Sebi’s confidential pre-filing route earlier this year, receiving regulatory approval in November.