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Snapdeal Files Papers with SEBI to Raise Funds via IPO – The Hindu


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The public issue comprises fresh issuance of equity shares worth 12.5 billion rupees and an offer for sale of 30,700,000 equity shares, according to the draft red herring prospectus


Snapdeal
Snapdeal founders Kunal Bahl and Rohit Bansal are not selling any of their holding in the IPO. Photo: Reuters

 

Indian e-commerce platform Snapdeal has filed preliminary documents with the markets regulator to raise funds through an initial public offering (IPO) as the latest internet-led business looking to list on domestic stock exchanges, The Hindu reported.

The public issue comprises fresh issuance of equity shares worth 12.5 billion rupees ($165 million) and an offer for sale of 30,700,000 equity shares, according to the draft red herring prospectus.

Read the full report: The Hindu
 


 

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.

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