Snapdeal parent AceVector makes weak IPO debut at 11.5% discount

AceVector, parent company of Snapdeal, made a weak stock market debut, with shares listing at an 11.5% discount to the IPO price. Shares opened at ₹28.32 on NSE and ₹28.30 on BSE, against the ₹30-32 issue price band. The ₹420-crore IPO was subscribed 4.93 times, while its market capitalisation stood at ₹1,404.55 crore.