AceVector Limited, parent of Snapdeal, sharply reduces its net loss and posts growth in revenue, as it prepares for its second attempt at a public listing with a ₹287 crore share issue amid expanding operations across marketplace, SaaS, and consumer brands.
AceVector Limited, the parent of Snapdeal, reported a sharp improvement in its finances for fiscal 2025-26, cutting its net loss by nearly two-thirds as revenue grew and adjusted earnings losses narrowed. According to its red herring prospectus, the company posted a restated net loss of ₹45.5 crore, down from ₹126.3 crore a year earlier, while operating revenue rose 29.2% to ₹510.3 crore. Including other income of ₹27.3 crore, total income reached ₹537.7 crore, and adjusted EBITDA loss fell to ₹15.9 crore from ₹39.2 crore.
The disclosure comes as AceVector moves ahead with an initial public offering that will include a fresh issue of shares worth ₹287 crore and an offer for sale of up to 4.16 crore shares. The IPO is set to open for subscription on September 25 and close on September 29, marking the company’s second attempt to list after an earlier plan was abandoned in 2022. AceVector first filed confidentially for a public issue in July last year and later secured regulatory approval in November.
Founded in 2010 by Kunal Bahl and Rohit Bansal, Snapdeal was once a direct rival to Flipkart and Amazon before losing share in India’s e-commerce market. After the failed Flipkart merger in 2017, it shifted towards a value-led marketplace model. AceVector now houses three businesses under one umbrella: Snapdeal, the listed e-commerce software platform Unicommerce and Stellaro Brands, which manages house labels. The group combined these businesses in 2022.
The marketplace division remained the biggest contributor to revenue in FY26, bringing in ₹293.7 crore, or 57.5% of the total. The software-as-a-service arm contributed ₹204.3 crore, or 40%, while the consumer brands business added ₹12.8 crore. Snapdeal’s marketplace operation reported a net merchandise value of ₹1,093.1 crore and handled 2.6 crore units during the year, with annual transacting users at 1.2 crore. Its adjusted EBITDA loss widened slightly to ₹50.2 crore from ₹48 crore a year earlier. By contrast, the SaaS segment posted an adjusted EBITDA profit of ₹41.3 crore, up from ₹25.3 crore, helped by a 17.9% rise in clients to 8,261. Stellaro Brands ended the year with 17 exclusive brand outlets.
AceVector’s expense base also grew, with total costs rising 26.8% to ₹575.2 crore. Logistics was the largest line item at ₹240.4 crore, up 56.8% year on year, followed by employee benefit expenses of ₹168.9 crore and marketing spending of ₹91.3 crore.
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