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Indian Startupssnapdeal

Snapdeal To Go Public In India

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A recent statement made by Jayant Sinha, the Finance Minister of India seems to have put the Indian startup industry giants into a thinking mode. Speaking at the Start Up India workshop recently held in the capital, Sinha had said that India's equity markets could get a real, big boost if unicorn firms like Flipkart etc. agree to get listed on local bourses.

Related - Govt. Wants Billion Dollar Startups To List In India

And, now Snapdeal, which is one of the brightest gems of the Indian startup industry has come forward and given a powerful statement. Speaking at the DLD conference held in Munich recently, Snapdeal's chief product officer Anand Chandrasekaran said that the company is all for going public in its home country India but such an offering for Snapdeal is still probably a few years off.

According to Chandrasekaran, it is very likely that the IPO will be in India, which is probably the only e-commerce company that is going to go public in the country.

Snapdeal is working towards getting all of its 250,000 sellers and more than 80 million registered users to also get benefited from any public offering.

Snapdeal is currently involved in a fierce and continuing battle with Flipkart and Amazon in order to acquire the numero uno position in India, which is one of the premiere online shopping destinations in the world.

The e-commerce company was valued at $5 billion in 2015 after an investment from Foxconn, a China based contract manufacturer, which is meticulously looking to expand into the payments area. Along with it, Japan’s SoftBank is also a major stakeholder and Alibaba an investor.

The last few years have seen Snapdeal strategically developing a diverse ecosystem of sites by acquiring companies focused on different areas of online commerce.

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