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The Economic Times

Business

Akash Podishetti

Snapdeal parent AceVector raises Rs 189 crore from anchors; Negen, Singularity among top investors

AceVector Snapdeal IPO

AceVector, the company behind Snapdeal, raised Rs 189 crore from anchor investors ahead of its initial public offering, which opens for public subscription on September 25. The company allotted 5.9 crore shares to anchor investors at Rs 32 per share, the upper end of its IPO price band. Negen Undiscovered Value Fund received the largest allocation in the anchor book, with 1,24,99,812 shares worth about Rs 40 crore. Singularity Growth Opportunities Fund II was the second-largest anchor investor, receiving 84,37,104 shares worth nearly Rs 27 crore.

Turnaround Opportunities Fund was allotted 62.49 lakh shares worth about Rs 20 crore. Alchemy Long Term Ventures Fund Series 3, Mavira Growth Opportunities Fund and LC Pharos Multi Strategy Fund VCC were each allotted 46.87 lakh shares worth about Rs 15 crore.

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