SoftBank-backed Snapdeal files for IPO
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BENGALURU - SoftBank-backed Indian 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.
Snapdeal's IPO consists of a fresh issue of shares worth 12.5 billion rupees ($165.09 million) and an offer for sale of 30.8 million shares, according to its draft prospectus dated Dec. 20.
($1 = 75.7180 Indian rupees)
(Reporting by Chandini Monnappa in Bengaluru; Editing by Shounak Dasgupta)
