Snapdeal Aims $200-250 mn IPO in 2022

E-commerce major Snapdeal aims to go public in early 2022 after filing the draft red herring prospectus, or DRHP.
Snapdeal Aims $200-250 mn IPO in 2022

E-commerce major Snapdeal aims to go public in early 2022 after filing the draft red herring prospectus, or DRHP, the people said, asking not to be identified talking about a private matter. 

Snapdeal, once considered the fiercest rival to Amazon.com Inc, and Walmart's Flipkart in the world's fastest-growing major online arena, plans to raise at least $200 million at a $1.5 billion valuation.

Once among the top three e-commerce players in India, along with Flipkart and Amazon, the SoftBank- and Alibaba- backed company pivoted its business model to cater to the value-conscious segment of the domestic market after a potential acquisition by rival Flipkart fell through.

"While the founders are unlikely to sell their shares, the existing shareholders, both domestic and foreign, are not planning to sell much," said a source. 

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