Tech
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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