Snapdeal mulls IPO

Jasper Infotech, which owns and operates India’s largest online marketplace Snapdeal, has held talks with at least two merchant bankers

as it considers a public market debut in the next 12 to 18 months. The New Delhi-based company has taken the lead in what is expected to be a rush for IPOs by consumer internet companies. Some of these have already announced their listing plans, and are expected to debut on the bourses in the current financial year. There is a lot of pent-up demand for good equity stories.

Snapdeal was valued at about Rs 6,000 crores after its last funding round in May this year. It will look to list on a US exchange by the end of the next fiscal, by which time it will have crossed a billion dollars in annual sales and be profitable as well. Snapdeal.com is India's largest online shopping site featuring a wide array of products from multiple categories like mobile phones, laptops, TV, digital cameras, apparel, footwear, watches and many more. It aims to deliver products in just two hours from the time of placing an order by setting up 40 fulfillment centers across 15 cities to help its 30,000 sellers.