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Published
Dec 21, 2021
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Snapdeal's draft IPO papers expected this week

Published
Dec 21, 2021

E-commerce marketplace Snapdeal is gearing up to file its draft initial public offering papers with market regulator Securities and Exchange Board of India and is expected to do so in the coming few days.

Snapdeal is gearing up for its IPO - Snapdeal


Snapdeal aims to raise around Rs 1,250 crore ($187.9 million) through a primary share sale and is gearing up to file its draft IPO papers, sources told ET Bureau. The public issue is also expected to have a secondary or offer for sale component valued at between Rs 400 crore and Rs 500 crore. 
 
The e-commerce business counts Japanese SoftBank as an investor. SoftBank is expected to offload part of its holding in Snapdeal in the IPO to reduce its stake to around 25% or below, according to ET Bureau’s sources. Snapdeal’s founders Kunal Bahl and Rohit Bansal are not expected to sell any of their own shares in the business. 

“They (value conscious buyers) prefer to not pay for brand premiums, but for what matters to them- good fit with their functional needs, trendy looks and styling, quality that lasts,” wrote Snapdeal co-founder Kunal Bahl in a recent post on LinkedIn about the business’ value positioning in the market. “A product that meets all these needs and is priced right is value.”
 
Snapdeal launched in 2010 and experienced swifter growth in its early years but lost ground to e-commerce giants including Flipkart and Amazon India. This led the business to pivot to a focus on value products including unbranded clothing and accessories to reduce its costs and target non-metro consumers.  

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