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Business · Updated 5 Oct, 05:55 pm IST

AceVector shares list about 11.5% below IPO price

Image: Inc42

Why it matters for readers: It explains why a company's share price can move sharply on its first trading day and change its market value.

  • AceVector listed at ₹28.30 on the BSE and ₹28.32 on the NSE, about an 11.5% discount to the ₹32 IPO price.12
  • By close, the stock was down about 18.4–18.5% from the issue price, ending near ₹26.10 on the BSE and ₹26.08 on the NSE after intraday lows around ₹23.37–₹23.40.1
  • The weak debut reduced AceVector’s market capitalisation from its IPO valuation; at the BSE listing price it was about ₹1,540.1 Cr and it closed the session with a market cap of ₹1,420.3 Cr.1
  • AceVector’s ₹420 Cr IPO comprised a ₹287 Cr fresh issue and a ₹133 Cr offer-for-sale, with fresh capital intended mainly for Snapdeal’s marketing and technology.1
  • The IPO had received subscription interest (reported as 4.93x), but the stock still opened and closed below the issue price.1
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How this story developed

  1. 5 Oct, 05:22 pm · Inc42

    [Update] Snapdeal Parent AceVector Ends Market Debut 18.5% Below Issue Price

  2. 5 Oct, 05:55 pm · YourStory

    AceVector makes weak market debut, shares list 11.5% below issue price