Connect with us

Hi, what are you looking for?

Business & Economy

Snapdeal files for IPO — fresh issue of up to Rs. 1,250 crore and offer for sale of up to 3.08 cr equity shares

The Offer comprises a fresh issue aggregating up to Rs. 1,250 crore and an offer for sale of up to 30,769,600 equity shares

Snapdeal Ltd. (Snapdeal), India’s largest pure-play value eCommerce platform, in terms of revenue for the Financial Year 2020, filed draft red herring prospectus for an IPO. The Offer comprises a fresh issue aggregating up to Rs. 1,250 crore and an offer for sale of up to 30,769,600 equity shares.

Snapdeal proposes to utilise the Net Proceeds of the Fresh Issue of Rs. 1,250 crore towards funding the following objects: 1. Funding organic growth initiatives – Rs. 900 crore; and 2. General corporate purposes (collectively, referred to herein as the “Objects”).

In its DRHP, Snapdeal says that it is India’s largest pure-play value eCommerce platform, in terms of revenue for the Financial Year 2020. Further, with over 200 million app installations on Google Play Store, it is the most installed pure-play value eCommerce application and one of the top four online lifestyle shopping destinations in terms of total app installations in India, as of August 31, 2021. (Source: RedSeer Report, which has been commissioned and paid for by us exclusively for the Offer) Founded in 2007, Snapdeal started its business as a coupon booklet business, which it transformed into an online deals platform in 2010 and an online eCommerce marketplace in 2012. Snapdeal’s value proposition meets the distinct buying needs of ‘Bharat’ shoppers.4 (Source: RedSeer Report, which has been commissioned and paid for by us exclusively for the Offer). Snapdeal platform was also ranked by App Annie (a mobile market data and analytics platform) in the ‘Top Publisher Award 2020’ as among the top 10 shopping apps in India in terms of monthly active users (“MAUs”) for the year 2019.5

As per RedSeer Research, our total addressable market – the value lifestyle retail market in India – is projected to grow from US$88 billion to US$175 billion between the Financial Years 2021 and 2026, respectively, at a CAGR of 15%.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Business Voice Specials

Mathew Job has been spearheading a remarkable transformation in Crompton Greaves Consumer Electricals Ltd for the last five years

Business Voice Specials

It is the story of an ardent lover of nature and trees, who left a very lucrative Gulf job to start an agriculture theme...

Business & Economy

Atma Nirbhar Bharat has captured people’s imagination and become a mantra for everyone: M A Yusuff Ali

News

Ofabee.com facilitates coaching and training institutes to launch their branded coaching app