AceVector IPO Subscribed 9% On Day 1 So Far, Retail Investors Lead Bidding

•AceVector's ₹420 Cr IPO subscribed 9% on Day 1, with 65.11 Lakh shares bid against 7.42 Cr shares on offer.

•Retail investors led bidding, subscribing to 36% of their quota with 49.85 Lakh shares bid against 1.37 Cr shares reserved.

•Non-institutional investors bid for 7% of their quota, while Qualified Institutional Buyers (QIBs) have yet to place bids.

•AceVector plans to use ₹132 Cr for Snapdeal's marketing and ₹50 Cr for technology infrastructure.