Snapdeal parent firm AceVector's IPO to open on September 25

AceVector, the parent company of ecommerce firm Snapdeal, will launch its initial public offering (IPO) on September 25. The IPO will be a combination of fresh issue of shares and offer for sale as the company looks to raise Rs 420 crore in total. In its red herring prospectus (RHP), AceVector said it has set a price band of Rs 30-32 for the IPO and the valuation of the company will be about Rs 1,750 crore.