December 21, 2021
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Snapdeal files IPO documents
Snapdeal Ltd. India’s largest pure-play value eCommerce platform, in terms of revenue for the Financial Year 2020, filed DRHP 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.
The Company proposes to utilise the Net Proceeds of the Fresh Issue of Rs. 1,250 crore towards funding 1. Funding organic growth initiatives Rs. 900 crore; and 2. General corporate purposes
Snapdeal 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.
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
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 for the year 2019.5
As per RedSeer Research, its 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%.
