Snapdeal weighs IPO to raise $300-400 million
- ByAyushi Ray | September 4, 2021
Snapdeal weighs IPO to raise $300-400 million. The company is expected to arrive at a final decision about the listing in three to four weeks, said two of the four people aware of the discussion. The company is talking to JM Financial Ltd and another local banker, they said, requesting anonymity. Snapdeal declined to comment on Mint’s queries on the matter. If the company goes ahead with its listing plans, it is expected to ask for a valuation of more than $2 billion, said one of the four people.“While the company is in talks with bankers, it is still formulating its plans on the listing. Currently, the float size and valuations are being discussed and the bankers are expected to come back with a formal reply in the coming three to four weeks, post which Snapdeal will make a final decision,” said the first person among the four individuals.
The news around Snapdeal’s listing comes at a time when Indian unicorns and startups are lining up to list on Indian exchanges. The second half of this year is expected to see unicorns, including beauty marketplace Nykaa, insurtech and lending platform PolicyBazaar, logistics major Delhivery and Noida-based financial major Paytm, list on Indian exchanges. Other names include MobiKwik, Traxcn and MapMyIndia, which have filed their initial public offering (IPO) documents over the past two months. Hospitality unicorn Oyo and cab aggregator Ola are also preparing for public listings by early next year, Mint reported earlier.
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