<p>SoftBank-backed e-commerce platform Snapdeal filed for an initial public offering on Tuesday, joining dozens of firms in the country that have tapped the capital markets this year.</p>.<p>Several SoftBank-backed companies and many popular names such as payments platform Paytm, beauty e-commerce retailer Nykaa and food delivery platform Zomato have sought a listing in India this year as ample liquidity and strong retail participation pushed the stock market to record levels.</p>.<p>Snapdeal's IPO consists of a fresh issue of shares worth Rs 1,250 crore and an offer for sale of 308 lakh shares, according to its <a href="https://www.axiscapital.co.in/uploads/equity_documents/20211221100157_snapdeal_limited__drhp.pdf" target="_blank">draft prospectus</a> dated Dec. 20.</p>.<p>New Delhi-based Snapdeal, started in 2010 by Wharton alumnus Kunal Bahl and Indian Institute of Technology, Delhi graduate Rohit Bansal, competes with bigger rivals such as Walmart-owned Flipkart and Amazon.com Inc in India.</p>.<p>Snapdeal potentially faces stiff competition from Reliance Industries, which is rapidly expanding in the online market space.</p>.<p>While founders Bahl and Bansal are not selling their stakes, investors SoftBank, Foxconn, Sequoia Capital and Ontario Teacher's Pension Plan Board have offered to sell a part of their stakes in the IPO.</p>.<p>Snapdeal plans to use proceeds from the IPO for organic growth initiatives, the filing showed.</p>.<p><em><strong>Check out the latest DH videos here:</strong></em></p>
<p>SoftBank-backed e-commerce platform Snapdeal filed for an initial public offering on Tuesday, joining dozens of firms in the country that have tapped the capital markets this year.</p>.<p>Several SoftBank-backed companies and many popular names such as payments platform Paytm, beauty e-commerce retailer Nykaa and food delivery platform Zomato have sought a listing in India this year as ample liquidity and strong retail participation pushed the stock market to record levels.</p>.<p>Snapdeal's IPO consists of a fresh issue of shares worth Rs 1,250 crore and an offer for sale of 308 lakh shares, according to its <a href="https://www.axiscapital.co.in/uploads/equity_documents/20211221100157_snapdeal_limited__drhp.pdf" target="_blank">draft prospectus</a> dated Dec. 20.</p>.<p>New Delhi-based Snapdeal, started in 2010 by Wharton alumnus Kunal Bahl and Indian Institute of Technology, Delhi graduate Rohit Bansal, competes with bigger rivals such as Walmart-owned Flipkart and Amazon.com Inc in India.</p>.<p>Snapdeal potentially faces stiff competition from Reliance Industries, which is rapidly expanding in the online market space.</p>.<p>While founders Bahl and Bansal are not selling their stakes, investors SoftBank, Foxconn, Sequoia Capital and Ontario Teacher's Pension Plan Board have offered to sell a part of their stakes in the IPO.</p>.<p>Snapdeal plans to use proceeds from the IPO for organic growth initiatives, the filing showed.</p>.<p><em><strong>Check out the latest DH videos here:</strong></em></p>