Snapdeal weighs IPO to raise $300-400mn
September 06, 2021
E-commerce marketplace Snapdeal is in initial talks with Indian bankers to explore a public posting in India that could see the organization raise $300-400 million, four individuals near the improvement said.
The organization is expected arrive at a final decision about the posting in three to about a month, said two of the four individuals aware of the talks.
The organization is talks with JM Financial Ltd and another nearby investor, they said, mentioning namelessness. Snapdeal declined to comment on Mint’s inquiries on the matter.
In the event that the organization proceeds with its posting plans, it is relied upon to request a valuation of more than $2 billion, said one of the four individuals.
“While the organization is in chats with investors, it is as yet formulating its plans on the listing. As of now, the float size and valuations are being discussed about and the bankers are expected to return with a formal reply in the coming three months, post which Snapdeal will make a final decision,” said the first person among the four individuals.
“Most of the groundwork has been accomplished for the organization to now turn towards the public market,” the person added.