AceVector DRHP: A Look At Shareholding Pattern & Key Executives

Snapdeal parent AceVector Group is gearing up for its public market debut, setting the stage for a partial exit by several of its long-term backers. The ecommerce group has filed its updated draft red herring prospectus (UDRHP) with SEBI, outlining a mix of fresh capital raise of up to INR 300 Cr and an offer for sale (OFS) of up to 6.39 Cr equity shares.

According to the UDRHP, the bulk of the OFS will come from the promoter entity of SoftBank (Starfish I Pte. Ltd.), which plans to offload up to 4.23 Cr shares. Nexus Venture Partners, one of the company’s oldest institutional investors, will cumulatively sell about 1.3 Cr shares via its three funds — Nexus India Direct Investments II, Nexus Opportunity Fund Ltd, and Nexus Ventures III Ltd. Other participating shareholders in the OFS include Rupen Investment and Industries Pvt Ltd and Centaurus Trading and Investments Pvt Ltd.

AceVector’s largest shareholder SoftBank holds 14.1 Cr shares or 30.68% of  the company’s pre-offer equity share capital. Nexus, which holds stakes across multiple investment vehicles, owns 3.8 Cr shares through Nexus India Direct Investments II (8.20%).

Among promoters, cofounders Kunal Bahl and Rohit Bansal together own 23.56% of the company. Of this, Bahl holds 5.7 Cr shares (12.42%) and Bansal owns 5.1 Cr shares (11.14%). Both remain key shareholders and are not part of the OFS. 

Other major backers include B2 Professional Services LLP, an LLP whose designated partners are the cofounders’ wives Yashna Bahl and Parul Bansal, with an 11.07% stake and eBay, which holds 4.92%. The top shareholders (with more than 1% pre IPO shareholding) collectively control over 85% of AceVector’s equity, indicating a concentrated cap table led by promoter and institutional entities.

On the operational front, AceVector plans to deploy INR 125 Cr from the fresh issue towards marketing its marketplace business. The remaining funds will support tech enhancements across its ecommerce stack, drive inorganic expansions, and cover general corporate needs. 

The group, which houses Snapdeal, Unicommerce, and Stellaro Brands under one umbrella after a 2022 consolidation, is positioning itself for a renewed scale-up phase.

Snapdeal, founded in 2010 by Bahl and Bansal, once competed head-to-head with Flipkart and Amazon before losing significant market share. After the failed Flipkart merger in 2017, the company pivoted to a value-focused ecommerce model, stabilising operations in the following years.

The IPO move comes months after AceVector filed its DRHP confidentially with SEBI in July and subsequently secured regulatory approval. On the financial front, the company’s recent financials show operating revenue rose 35% to INR 244.4 Cr in H1 FY26, while losses narrowed by 80% to INR 22.4 Cr from INR 110.3 Cr a year ago.

With a tightly held shareholding structure and a set of early investors ready to partially cash out, the upcoming IPO marks a crucial reset moment for AceVector as it looks to re-establish its footing in India’s value ecommerce landscape.

Let’s look at the top deck of the company: 

Board of Directors

Kunal Bahl

Bahl, the company’s promoter and joint managing director, founded Snapdeal in 2007 and has been with the company for over 18 years. Since then, he also cofounded VC firm Titan Capital as well as taking up positions with key national bodies, including CII’s startup council and the National Startup Advisory Council. Bahl is a nominee director on the board of Unicommerce. He received a total remuneration of INR 27 Lakh from the company in FY25.

 

Rohit Bansal

Bansal, the company’s promoter and joint managing director, also serves as cofounder of Titan Capital. Before this, he worked with Capital One Services. He is also a nominee director on the board of Unicommerce eSolutions. He also received a total remuneration of INR 27 Lakh from the company.

Kasaragod Ullas Kamath

Kamath is the chairperson and an independent director on the company’s board. A seasoned executive with over 28 years of experience, he has served in leadership roles across industry bodies and corporates, including a previous stint as joint managing director of Jyothy Labs. He also sits on the board of the listed subsidiary Unicommerce.

Simran Khara

Independent director Khara brings over 17 years of experience to AceVector’s board across industries like consumer services, publishing, entertainment and consulting. She is the founder and CEO of SIML Labels (Koparo Clean) and previously served as CEO of Juggernaut Books. Earlier, she worked with McKinsey and Star India. The company did not pay any remuneration to its independent directors in FY25.

Akhil Kumar Gupta

Gupta serves as a non-executive director and is the nominee of shareholder B2 Professional Services LLP. With more than 38 years of experience, he has been associated with Bharti Enterprises for several years and currently serves as a whole-time director there. He also sits on the boards of multiple companies across insurance, wealth management, real estate and advisory services, and is president emeritus of the Telecom Sector Skill Council.

Sairee Chahal

Appreciate Capital’s founding partner Chahal serves as a non-executive independent board for AceVector. An entrepreneur and advocate for women’s economic inclusion, Chahal She founded SHEROES, an online platform connecting women with jobs, mentorship and community in 2013 and Mahila Money, a financial services platform for women, in 2023. 

Key Managerial Personnel

Bharat Venishetti

CFO Venishetti has been with the company since its inception in 2015. He oversees financial strategy, planning and governance across the organisation. The IIT Roorkee alumnus had over eight years of experience before joining Snapdeal, working with Kotak Mahindra Bank till 2015. He joined Snapdeal as a finance manager that year, working up the ranks to become the group’s CFO in 2024.

In FY25, he received a total compensation of INR 1.26 Cr.

Anil Kumar

Kumar is the company secretary and compliance officer. He joined the company in February 2025 and brings over 15 years of experience in fields like statutory compliance, secretarial functions and governance processes. He also serves as the company secretary of Unicommerce. 

Kapil Makhija

Makhija is the managing director and CEO of Unicommerce. He has been associated with the company since 2015 and leads business execution, growth planning and the technology and corporate functions of Unicommerce. In FY25, he received a compensation of INR 2.50 Cr.

Himanshu Chakrawati

Chakrawati is the whole-time director and CEO of Stellaro. He joined the company in November 2021 and transitioned to Stellaro in January 2025. An IIT Kanpur alumnus, he brings more than three decades of experience across Arvind Lifestyle Brands, The MobileStore, Hicare, Lakme Lever, Trent, Unistar and Heinz India. In FY25, he received a total remuneration of INR 2.34 Cr.

Achint Setia

Setia is the CEO of Snapdeal and has been associated with the company since January 2025. An alumnus of the University of Delhi and the Indian School of Business, he has over 20 years of experience, including leadership roles at Zalora, Viacom18, Microsoft, McKinsey and Myntra. In FY25, Setia received a remuneration of INR 0.62 Cr.