SoftBank to increase stake in Snapdeal

After its last funding round of 627 million dollars (over Rs 3,800 crores) in leading marketplace model Snapdeal, Japan’s SoftBank Group is planning to increase its stake in the company to more than 38 percent from the current 33 percent. Sources claim that Independent Director on the board Akhil Kumar Gupta, a senior executive at Bharti Enterprises, has also picked up a small personal stake in the online marketplace.