The e-commerce giant Snapdeal is looking to go public after filing at Drafts Red Herring Prospectus (DRHP) at the start of the next year. In 2022 the company plans to launch an Initial Public Offering (IPO), according to news from reliable sources.
The sources also mentioned that the company is looking at a $250 million IPO (around 1,870 crores), which could value Snapdeal at about 1.5-1.7 million.
This year has witnessed a rolling of IPO’s from Zomato and Nykaa, which got a stellar response from their members. While Paytm witnessed a lackluster listing in the market.
Snapdeal is an e-commerce company and focuses on the value segment, with more than 90% of the products sold below Rs.1000 and 80% of its customers being from Tier-II and III cities. The e-commerce platform has investments from SoftBank, BlackRock Inc, Temasek Holdings Pte, and EBay Inc.