Upcoming IPO: E-commerce marketplace Snapdeal’s parent company Acevector has also accelerated the preparations to step into the stock market. It is being told that the company has secretly submitted a draft paper to the market regulator SEBI.

Assivector gave this information on Saturday

Assivector said on Saturday that it has deposited pre-Filled Draft Red Herring Prospects with SEBI and stock exchanges, which is about the proposed IPO of its equity shares on the main board of the stock exchange. In addition to Gurugram based assivector Snapdeal, Software-Eg-Services (SAAS) platforms also oversee unicomers and consumer brand building firms Stellar Brands. Of these, Unicomers have become a publicly listed company in 2024. The company’s IPO received tremendous response and was bid 168.32 times more.

Companies selecting the path of confidential filing

The company, a company created by Kunal Bahl and Rohit Bansal, has secretly chosen the path of pre-filing, so that the details related to the IPO are not publicly disclosed till the last phase under the draft Red Herring Prospects (DRHP). This method is becoming popular among Indian companies, who want more flexibility in their IPO plan so that no such sensitive information related to business is public, which can prove to be useful for a competitive company.

In recent months, Iinox Clean Energy, Logistics Service Provider Shadowax Technologies, Stock Broking Firm Grow, Gaja Alternative Asset Management, Commerce enabling platform shipbolt, Tata Capital, Edtech Unicorne Physicswixwacks and Vianeable Company of Viands Boats and Viant Company Immigin Market Choose the way of filing. In 2024, food delivery platform Swiggy and retail chain Vishal Mega Mart also launched their IPOs after a similar filing.

Many more benefits of confidential pre-filing

There are many other benefits of pre-filing in a confidential manner, such as there is no pressure to launch IPO as soon as possible. Usually companies have to launch an IPO within 12 months after submitting drafts with SEBI. At the same time, after choosing the path of confidential pre-filing, this time limit increases to 18 months. In addition, companies can change the size of IPOs up to 50 percent up to updated DRHP stage.

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