India’s leading e-commerce retailer Snapdeal is planning for initial public offering (IPO) and can raise US $ 350-400 million.
As per media reports, the retail giant, backed by SoftBank, is looking for a valuation of US $ 2-2.5 billion.
The JM Financial, Axis Bank and Bank of America have been roped in as the bankers to run the mandate. However, Snapdeal, SoftBank, Axis Bank and JM Financial have not confirmed the same.
The company wants to look at this as an opportunity to allow retail investors become a part of its expansion story in Tier-2, Tier-3 and Tier-4 markets.
The reports claim that Snapdeal is a reinvention story and want to take the value story to consumers in Bharat.
It is worth mentioning here that if Snapdeal decides to proceed with the IPO process, it will join the ranks of other start-ups that are looking at joining the listing frenzy.
From April to June 2021, about 12 companies have raised as much as Rs. 27,000 crore through listings.
Apparel products are one of the major selling categories for Snapdeal. Very recently, it saw huge traction in the sales of kids’ apparel – a jump of 493 per cent between January and July 2021.
Founded in 2010, Snapdeal offers more than 60 million products across 800 categories on its platform and delivers to more than 6,000 cities and towns across the country.
