Acevector Limited
RHP · filed 21 Sept 2026
Acevector Limited operates an e-commerce marketplace business that focuses on the value segment of the Indian market, with a significant portion of its revenue generated through Snapdeal. The company reported a revenue of Rs 510.38 crore in the latest financial year and a revenue CAGR of 15.93%, but it is currently loss-making with a net profit of Rs -45.51 crore and a negative return on equity of -17.48%. The draft prospectus highlights high risks regarding the company's ability to operate profitably, its net cash outflows, and its heavy reliance on Snapdeal for revenue. Additionally, the company faces risks related to sustaining marketing expenses and competition for digital traffic.
What stands out
Loss-making. The latest restated fiscal year reports a net loss.
Risk factor. We have incurred restated losses of ₹455.06 million, ₹1,263.06 million and ₹512.97 million in the Financial Years ended March 31, 2026, 2025 and 2024 respectively, and our ability to operate profitably depends on factors beyond our control.
Risk factor. We have had net cash flows used in operating activities for the Financial Years 2026, 2025 and 2024 and net cash flows used in financing activities for the Financial Year 2026, and we may continue to have a net used cash position in the future.
Risk factor. A significant portion of our revenue from operations is generated through Snapdeal, our marketplace business, which contributed 57.54%, 63.25% and 66.59% of our revenue from operations in Financial Years 2026, 2025 and 2024 respectively.
How the offer is structured
- Funding a portion of the marketing and business promotion expense of the Marketplace business of our Company₹132 Cr
- Funding the technology infrastructure costs of the Marketplace business of our Company₹50.0 Cr
- Funding inorganic growth through acquisitions and general corporate purposes
Restated financials
Revenue
₹510 Cr
Latest fiscal year
Profit after tax
₹-45.5 Cr
Revenue CAGR
15.9%
Return on equity
-17.5%
| Fiscal year | Revenue | EBITDA | PAT | Net worth |
|---|---|---|---|---|
| 2024 | ₹380 Cr | ₹-51.3 Cr | ₹-122 Cr | |
| 2025 | ₹395 Cr | ₹-126 Cr | ₹188 Cr | |
| 2026 | ₹510 Cr | ₹-45.5 Cr | ₹260 Cr |
Promoters, litigation & related parties
Promoter (pre)
53.2%
Except as stated in this section, there are no outstanding (i) criminal proceedings (including FIRs), (ii) actions taken by statutory or regulatory authorities including notices sent by such authorities irrespective of any materiality threshold, (iii) claims relating to direct and indirect taxes, in a consolidated manner, or (iv) other pending litigation as determined to be material by our Board pursuant to the Materiality Policy (as disclosed herein below), in each case, involving our Company, its Subsidiaries, our Directors or our Promoters (the “Relevant Parties”). Additionally, except as disclosed in this section, there are no outstanding criminal proceedings and outstanding actions by regulatory and statutory authorities against our KMPs and SMPs.
Risks the company discloses
We have incurred restated losses of ₹455.06 million, ₹1,263.06 million and ₹512.97 million in the Financial Years ended March 31, 2026, 2025 and 2024 respectively, and our ability to operate profitably depends on factors beyond our control.(Financial Position)
We have had net cash flows used in operating activities for the Financial Years 2026, 2025 and 2024 and net cash flows used in financing activities for the Financial Year 2026, and we may continue to have a net used cash position in the future.(Financial Position)
A significant portion of our revenue from operations is generated through Snapdeal, our marketplace business, which contributed 57.54%, 63.25% and 66.59% of our revenue from operations in Financial Years 2026, 2025 and 2024 respectively.(Business Concentration)
We focus on catering to the value segment of the Indian e-commerce market and a significant number of our users are located in the Tier 2+ cities of India.(Business Strategy)
On a per delivered unit basis, the marketing and business promotion expense – marketplace stood at ₹32.49, ₹31.73 and ₹39.52 in Financial Years 2026, 2025 and 2024 respectively.(Financial Position)
We may have to incur sustained marketing and business promotion expense or offer more incentives than we anticipate in order to attract users to our platforms and websites and convert them into buyers.(Business Strategy)
Our efforts to acquire new users, clients and customers of our business and retain them may not be successful or may be more costly than we expect, which could prevent us from maintaining or increasing our revenue.(Business Strategy)
There is a risk of increased cost of acquiring new users through marketing efforts due to heightened competition for digital traffic.(Business Strategy)
No dimension score is published for this filing. Too few sections could be read from the document to score it without guessing, and a score built on two fields would say more about our extraction than about the company.