Snapdeal IPO : IPO Date, Price, GMP, Review, Details
Snapdeal IPO : IPO Date, Price, GMP, Review, Details
SoftBank-backed Snapdeal weighs $400 million IPO
The company, which includes SoftBank Group Corp. among its investors, speaks to consultants about a potential Mumbai listing that could amount to 2.5 billion dollars, according to the public. They said that an IPO could take place as soon as next year, requesting no identification because the details are not public.
Indian e-commerce retailer Snapdeal Pvt envisages an earlies offer that could raise around $400 million and adds to a growing list of start-ups that are ready to tap capital markets for digital booms across the country.
The company, which includes SoftBank Group Corp. among its investors, speaks to consultants about a potential Mumbai listing that could amount to 2.5 billion dollars, according to the public. They said that an IPO could take place as soon as next year, requesting no identification because the details are not public.
The talks remain at an early stage and the company may decide not to carry the plan forward, the people said. Snapdeal and SoftBank representatives refused to comment.
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Snapdeal was once one of the three leading e-commerce companies in the country, together with the Flipkart Online Services Pvt. and Amazon.com Inc., Indian unit, based in New Delhi. Established in 2010, it provides over 60 million products in 800 categories on the platform and, according to its website, it delivers to more than 6,000 cities across the country.
Snapdeal left a possible merger with Flipkart four years ago that would unite both local e-commerce companies against Amazon. Since then, Flipkart has sold Walmart Inc. a controlling stake and is moving towards its own IPO.
The number of IPOs collected in India by 2021 has already exceeded the sum collected in the past three years. Payments services provider Paytm, the Policybazaar online insurance platform and the Nykaa e-commerce beauty startup are part of the pipeline for the rest of the year.
