Snapdeal plans $350-400 million IPO, eyes valuation of up to $2.5 billion

Recently, Snapdeal said it saw huge traction in the sale of kids' apparel, a jump of 493 per cent in the sixth month period between January and July

E-commerce retailer Snapdeal is eyeing an initial public offering to raise $350-400 million, according to sources aware of the talks, and is looking for a valuation of $2-2.5 billion. The company, which has backers like SoftBank, wants to look at this as an opportunity to allow retail investors to become a part of its expansion story in tier-2, 3, and 4 markets.

“Snapdeal is a reinvention story and they want to take the value story to consumers in Bharat,” said a source privy to the discussion. The sources also said that JM Financial, Axis Bank, and Bank of America have been