Snapdeal to soon file draft paper for IPO
Snapdeal to Soon File Draft Paper for IPO
Online
marketplace Snapdeal is likely to file papers soon with India’s markets
regulator SEBI (Securities and Exchange Board of India) for an initial public
offering (IPO)
Snapdeal is
hoping to raise as. 1,250 crore rupees through primary share sale while the
public issue will also have a secondary or OFS component of anywhere between
Rs. 400 crore and Rs. 500 crore.
Snapdeal has
been focusing on segments like fashion, electronic accessories etc.
The company
was once a challenger to companies like Flipkart and Amazon India.
Japanese
investor Soft Bank may offload parts of its holding to trim its stake down to
below 25%.
Snapdeal
founders Kunal Bahl and Rohit Bansal are unlikely to sell any shares in the upcoming
IPO
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