Snapdeal’s parent AceVector files confidential draft IPO papers with Sebi

AceVector, parent company of e-commerce marketplace Snapdeal, has confidentially filed draft papers with markets regulator Sebi to raise funds through an initial public offering (IPO).

In a public announcement on Saturday, AceVector stated that it has submitted “the pre-filed draft red herring prospectus with Sebi and the stock exchanges …in relation to the proposed initial public offering of its equity shares on the main board of the stock exchanges”.

Apart from Snapdeal, the Gurugram-based AceVector also operates software-as-a-service (SaaS)…