Snapdeal said in its draft prospectus that it will issue fresh shares worth USD 165 million. Some of its existing investors, including SoftBank, Sequoia Capital India and Foxconn, plan to sell as many as 30.7 million secondary shares in the IPO.
Snapdeal, which has raised more than USD 1.7 billion to date says more than 50 million unique customers have shopped at least once on its platform since April 2018. In its prospectus, Snapdeal said it generated an operating revenue of USD 31.9 million in six months ending in September 2021.
More than half a dozen consumer-focused Indian startups have filed for an IPO this year. While some, including Zomato and Nykaa, have made stellar debuts, others, including Paytm, which filed for the nation’s largest IPO, have consistently performed below issue share price.
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