India, Oct. 6 -- AceVector's Dull D-Street Debut

AceVector stepped onto Dalal Street with a weak show. Shares of the Snapdeal parent listed at a discount yesterday, before slumping even lower to finally close its first trading on a sombre note. But the subdued listing did not come as a surprise.

A Rough Debut: AceVector's shares listed at Rs.28.30 on the BSE, a discount of 11.6% to its issue price of Rs.32 per share. On the NSE, the stock debuted at Rs.28.32, an 11.5% discount to the IPO price. The downward trend continued as the shares finally closed the day more than 18% lower than the issue price. So, what went wrong with its IPO?

The Looming Shadow: AceVector's IPO fumbled on persistent losses, negative operating cash flows and int...