Snapdeal files papers with SEBI to raise funds via IPO
The Hindu
According to market sources, potential listing could value Snapdeal at about $1.5-1.7 billion.
E-commerce platform Snapdeal has filed preliminary documents with markets regulator SEBI to raise funds through an initial public offer (IPO), joining the league of internet-led businesses looking to list on domestic stock exchanges.
The public issue comprises fresh issuance of equity shares worth ₹1,250 crore and an offer for sale (OFS) of 3.07 crore equity shares, according to the draft red herring prospectus (DRHP).
According to market sources, potential listing could value Snapdeal at about $1.5-1.7 billion.
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