22
Dec
Snapdeal Ltd. (Snapdeal), in terms of revenue for the Financial Year 2020, has filed draft red herring prospectus 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.Snapdeal proposes to utilise the Net Proceeds of the Fresh Issue of Rs. 1,250 crore towards funding the following objects: 1. Funding organic growth initiatives – Rs. 900 crore; and 2. General corporate purposes (collectively, referred to herein as the “Objects”). In its DRHP, Snapdeal says that it is India’s largest pure-play value eCommerce platform, in terms…