Snapdeal IPO Details
Everyone knows about the e-commerce startup Snapdeal. Till a few years back, it was also a strong contender for Flipkart. This year the company is bringing its IPO and the company will raise about Rs 1250 crore from the market by issuing fresh shares. It is expected that with this money the company will work for growth. SoftBank has also invested in this company.
Snapdeal IPO Details: Preparations are being made to bring the IPO of the giant and well-known company’s e-commerce platform Snapdeal. Snapdeal’s IPO has filed preliminary papers with market regulator SEBI (Securities and Exchange Board of India) to raise money through IPO. According to the draft red herring prospectus (DRHP) filed with SEBI, new shares worth Rs 1250 crore can be issued through Snapdeal IPO. Apart from this, about 3.07 crore equity shares will be sold under the offer for sale (OFS).
Snapdeal Company Financial Report
| ₹ in Crores | |||||
| Income | Expense | PAT |
|||
| 2019 | ₹925 | ₹1114 | -₹187 | ||
| 2020 | ₹917 | ₹1211 | -₹274 | ||
| 2021 |
₹510 | ₹636 | -₹125 | ||
According to the documents filed with SEBI, the money raised through new shares will be used by the company for an organic growth initiative. Apart from this, this money will also be used for general corporate purposes. According to DRHP, Axis Capital, BofA Securities India, and JM Financial are the lead managers of the issue.
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