Snapdeal Makes It To D-Street, But Where’s The Moat?

One of India’s earliest ecommerce marketplaces has finally trotted onto D-Street. After a relatively muted 4.93X subscription to its IPO, Snapdeal’s parent AceVector is all set to make its stock market debut on Monday. AceVector’s ₹420 Cr IPO, which opened on September 25 and closed on September 29, comprised a fresh issue of ₹287 Cr and an offer for sale (OFS) of around ₹133 Cr, with shares priced in the ₹30-32 band.