Snapdeal Pvt., an Indian e-commerce store, is seeking an IPO that could raise $400 million.
Snapdeal Pvt- Initial Public Offering
According to the Bloomberg report the company, which counts SoftBank Group Corp. among its investors, is in talks with advisers about a possible offering in Mumbai that could value it at up to $2.5 billion.
The people indicated an IPO might happen as early as next year, but asked not to be identified because the facts aren’t public.
The talks are still in the early stages, and the company may decide not to go ahead with the proposal, according to the sources.
Snapdeal and SoftBank representatives declined to comment.
More About Snapdeal
According to a Bloomberg report, Snapdeal was started in 2010 and today has 60 million products across 800 categories on its platform. It serves more than 6,000 Indian cities and towns. In 2021, around 36 companies will go public, raising about Rs 60,200 crore.
Almost 4 years ago, there were talks related to a merger with Flipkart which would be a strong layout against Amazon but Snapdeal chose to step back. So Flipkart later sold a controlling stake to Walmart Inc. and is now progressing towards its IPO.
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