Snapdeal is preparing an initial public offering (IPO) that may garner US$ 350-400 million

04 September 2021, Mumbai:

Snapdeal, India's largest e-commerce company, is considering an initial public offering (IPO) that may earn US $ 350-400 million. According to rumours in the media, the retail behemoth, which is funded by SoftBank, is seeking a valuation of US $ 2-2.5 billion.

JM Financial, Axis Bank, and Bank of America have been appointed as the mandate's bankers. Snapdeal, SoftBank, Axis Bank, and JM Financial, on the other hand, have not verified this.

This is a chance for retail investors to become a part of the business's growing narrative in Tier-2, Tier-3, and Tier-4 regions, according to the company. According to sources, Snapdeal is a reinvention narrative that wants to carry the value storey to Indian customers. Snapdeal would join the ranks of other start-ups hoping to join the listing craze if it decides to go forward with the IPO process.

Between April and June 2021, 12 businesses raised a total of Rs. 27,000 crore through IPOs. Snapdeal's apparel items are one of its most popular categories. It has seen a 493 percent increase in sales of children's clothing between January and July 2021.

Snapdeal, which was founded in 2010, has over 60 million goods in 800 categories and delivers to over 6,000 cities and towns across the country.

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