Snapdeal parent AceVector gets Sebi nod for IPO

AceVector, the parent entity of ecommerce company Snapdeal, has received the go-ahead from the Securities and Exchange Board of India (Sebi) for its initial public offering (IPO), according to an official notification.

AceVector, founded by Kunal Bahl and Rohit Bansal, had filed its draft red herring prospectus (DRHP) under Sebi’s confidential route in July. Besides Snapdeal, the company also owns more than 28% of ecommerce software platform Unicommerce, which is listed independently on the exchanges. It also owns the house of brands firm Stellaro…