India, July 19 -- AceVector, the parent company of ecommerce major Snapdeal, has confidentially filed draft red herring prospectus (DRHP) with markets regulator SEBI for its INR 500 Cr initial public offering (IPO).

In a public announcement today, Acevector Limited said it has submitted the pre-filed DRHP with the SEBI for a proposed IPO for its equity shares on the main board of the BSE and the NSE. The equity shares will hold a face value of INR 1 apiece.

The IPO will largely consist of a fresh issue and most likely CLSA and IIFL are set be the bankers for the public issue.

Apart from Snapdeal, AceVector is also the parent entity of listed ecommerce platform Unicommerce and house of brands platform Stellaro Brands. The three entities...