Snapdeal parent AceVector lists at 12% discount to IPO price
In short
AceVector, the parent of Snapdeal, listed after a Rs 420 crore IPO. The issue had Rs 287 crore of fresh shares and Rs 133 crore sold by investors like SoftBank, Nexus Venture Partners and Foxconn. The shares opened at Rs 28.30, below the Rs 32 IPO price.
This matters because the stock listed at a discount, which can affect investor mood. The report does not say how the shares traded after the opening or how strong the IPO demand was.
What the reporting says
AceVector, the Snapdeal parent, listed after a Rs 420 crore IPO that included Rs 287 crore of fresh capital and a Rs 133 crore offer-for-sale by investors including SoftBank, Nexus Venture Partners and Foxconn. Its shares opened at Rs 28.30 on the BSE versus the Rs 32 IPO price, a discount of 11.56%, according to the publisher summaries. The immediate consequence is a weak debut, while the reporting does not state later trading or subscription details.
Why it matters
AceVector, Snapdeal’s parent, listed after a Rs 420 crore IPO made up of Rs 287 crore in fresh capital and a Rs 133 crore OFS. The shares opened at Rs 28.30 on the BSE against the Rs 32 issue price, implying an 11.56% discount. The reporting names selling investors including SoftBank, Nexus Venture Partners and Foxconn. It does not state post-listing performance or subscription data.