Price Band: —
Min. Investment: To be determined
Issue Size: ₹1,250 Cr (Fresh Issue) + OFS (amount not determined in DRHP)
About the Company
What does this company do?
Snapdeal Limited (formerly Jasper Infotech Private Limited) is an Indian e-commerce company operating a value-focused online marketplace platform. The company connects buyers and sellers across India, offering a wide range of products. It is a professionally managed company without an identifiable promoter. The company…
IPO Details
Issue parameters, key dates and structure.
Total Issue Size
₹1,250 Cr (Fresh Issue) + OFS (amount not determined in DRHP)
Fresh Issue
1250
Proceeds go to company
OFS
Up to 3,07,69,600 Equity Shares (value not fixed in DRHP; OFS proceeds go to selling shareholders, not the company)
30769600
Proceeds to selling shareholders
Reservation Structure
QIB (Qualified Institutional Buyers)
75%
Not less than 75% of the Offer allocated to QIBs on proportionate basis; up to 60% of QIB portion may be allocated to Anchor Investors
NII / HNI (Non-Institutional Investors)
15%
Not more than 15% of the Offer
RII (Retail Individual Investors)
10%
Not more than 10% of the Offer
Products & Brands
Key offerings and brand portfolio of the company.
Snapdeal Marketplace: Online e-commerce marketplace focused on value retail, offering a wide range of products across categories at affordable prices, primarily targeting price-sensitive and aspirational consumers in India including Tier 2 and Tier 3 cities.
Financial Performance
P&L, Balance Sheet and Cash Flow — all figures in ₹ Crores.
| Particulars (₹ Cr) | H1 FY2022 (Sep 2021) | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|
| Revenue from Operations | 238.587 | 471.756 | 846.399 | 839.428 |
| Other Income | 14.254 | 38.512 | 70.263 | 85.891 |
| EBITDA | -164.892 | -73.418 | -263.043 | -162.166 |
| EBITDA Margin | -69.1% | -15.6% | -31.1% | -19.3% |
| Depreciation & Amortisation | 10.646 | 50.277 | 30.429 | 23.513 |
| EBIT | -175.538 | -123.695 | -293.472 | -185.679 |
| Finance Costs (Interest) | 0.313 | 0.785 | 0.988 | 2.957 |
| PBT (Profit Before Tax) | -175.897 | -124.54 | -273.54 | -186.536 |
| Tax | 1.18 | 0.9 | 0 | 1.495 |
| PAT (Net Profit) | -177.077 | -125.44 | -273.54 | -187.029 |
| PAT Margin | -74.2% | -26.6% | -32.3% | -22.3% |
All figures in ₹ Crores (INR). Data sourced from DRHP/RHP.
Key Financial Ratios
Valuation and profitability metrics at the IPO price.
EPS — Basic (₹)
—
H1 FY2022 (Sep 2021)
EPS — Diluted (₹)
—
H1 FY2022 (Sep 2021)
P/E Ratio
—
At upper band
RoNW (%)
—
H1 FY2022 (Sep 2021)
NAV per Share (₹)
—
Pre-issue
Peer Comparison
Listed peers in the same industry — compare valuation and scale.
| Company | Exchange | Market Cap | Revenue (₹ Cr) | PAT (₹ Cr) | P/E | ROE |
|---|---|---|---|---|---|---|
| — | — | — | — | — | — | — |
* Peer data extracted from DRHP. All figures in ₹ Crores unless stated. P/E based on latest available earnings.
Objectives of the Issue
How the company intends to use the IPO proceeds.
⚠
Fresh Issue proceeds of up to ₹12,500 million for general corporate purposes and other stated objects as per DRHP
SWOT Analysis
Internal strengths & weaknesses; external opportunities & threats.
💪Strengths
Well-recognized brand in Indian value e-commerce with over 14 years of operating history
Asset-light marketplace model enabling scalability with lower capital intensity
Large and loyal base of value-seeking consumers across Tier 2, 3, and smaller cities
Experienced and professionally managed leadership team
⚠️Weaknesses
Prolonged history of operating losses raising concerns about path to profitability
No identifiable promoter, which may affect governance continuity perception
Significant dependence on technology infrastructure and third-party logistics providers
Lower brand salience and market share compared to larger e-commerce peers like Amazon and Flipkart
🚀Opportunities
Large and underpenetrated value retail market in India with rising digital adoption
Growth in Tier 2+ cities and rising aspirations of value-conscious Indian consumers
Expansion of seller ecosystem and introduction of new product categories
Potential to leverage global retail SaaS market as identified in Redseer Report
🔥Threats
Intense and well-funded competition from Amazon, Flipkart, Meesho, and social commerce platforms
Evolving and uncertain regulatory environment for e-commerce in India
Rapid changes in consumer preferences and technology requiring continuous investment
Risk of further consolidation in Indian e-commerce reducing Snapdeal's competitive position
Competitive Strengths
Key advantages highlighted in the DRHP.
✓
Established brand in value e-commerce segment in India with a large user base
✓
Focused positioning on value retail catering to price-sensitive and aspirational consumers
✓
Asset-light marketplace model connecting buyers and sellers without holding inventory
✓
Experienced management team with deep knowledge of Indian e-commerce landscape
✓
Significant technology and data capabilities developed over 14+ years of operation
✓
Large and growing addressable market in Indian value retail and e-commerce
Promoters & Shareholding
Pre & post-IPO shareholding pattern. Click a promoter card to learn more.
Promoters
Shareholding Pattern
PrePost
Key Risks
Material risk factors to consider before applying.
⚠
Intense competition from well-funded domestic and international e-commerce players including Flipkart, Amazon, Meesho, and others
⚠
History of significant losses and uncertainty regarding future profitability
⚠
Dependence on continued growth and retention of buyers and sellers on the platform
⚠
Regulatory risks related to FDI policy, e-commerce regulations, and data privacy laws in India
⚠
Risk of reputational damage from counterfeit products, fraud, or poor seller performance on the platform
⚠
Macroeconomic factors affecting consumer spending and discretionary retail demand in India
✗ Avoid
Should You Apply?
Snapdeal Limited is a value-focused Indian e-commerce marketplace that connects buyers and sellers across India, particularly targeting price-sensitive consumers in Tier 2 and Tier 3 cities. The company has been consistently loss-making across all reported periods, with revenue declining from ₹846 crore in FY2020 to ₹472 crore in FY2021, and continuing to contract in H1 FY2022. This is a Draft Red Herring Prospectus (December 2021) with price band and offer size yet to be determined, making valuation assessment incomplete. Given persistent losses, declining revenues, and a highly competitive e-commerce market dominated by Flipkart and Amazon, investors should exercise significant caution; the IPO is rated Avoid pending final price band disclosure.
⚠️ This is not investment advice. CheckIPO provides information for educational purposes only. Always consult a SEBI-registered financial advisor before investing.
Lead Managers & Registrar
Institutions managing the issue and handling allotment.
Book Running Lead Managers (4)
Axis Capital
BofA Securities
CLSA
JM Financial
Registrar to the Issue
📋
Link Intime India Private Limited
Registrar to the Issue
Company Details
Registered information and contact details.
Company Name
Snapdeal Limited
CIN
U72300DL2007PLC168097
Registered Office
SproutBox Suryavillas, Suite #181 TR-4, First Floor D-181, Okhla Industrial Area, Phase I, New Delhi - 110020
Contact Person
Prankur Chaturvedi
Phone
+91 124 4739850
Website
www.snapdeal.com