Three firms get Sebi nod to float IPOs
Three firms get Sebi nod to float IPOs
Three firms -- AceVector, parent company of e-commerce marketplace Snapdeal, Silver Consumer Electricals and Steel Infra Solutions Company -- have secured Sebi’s approval to launch initial public offerings (IPOs), an update with the markets regulator showed on Monday.
AceVector confidentially filed its draft IPO papers with Sebi in July, while the other two companies approached the regulator with their preliminary documents in August. The three firms obtained the regulator’s observations during November 11-12, the update showed.
In regulatory terms, Sebi’s observations are equivalent to clearance for launching a public issue. The approval comes at a time when the Indian market is experiencing a boom in primary market activity. In 2025, a total of 92 companies have already tapped the mainboard market through maiden public offerings, and several issues are lined up for this month.
AceVector, which is founded by Kunal Bahl and Rohit Bansal, opted for the confidential pre-filing route, which allows it to withhold public disclosure of IPO details under the draft red herring prospectus (DRHP) until later stages.
This route is gaining traction among Indian firms aiming for flexibility in their IPO plans. Apart from Snapdeal, the Gurugram-based AceVector also operates software-as-a-service (SaaS) platform Unicommerce, and consumer brand building firm Stellar Brands.
