Homeshop18 has filed for a USD 75 million public offering under the symbol HS, reports Renaissance Capital, a global IPO investment advisor. The company first filed a confidential IPO in late 2012. The joint bookrunners for the public offer will be Citi and Credit Suisse.
Although, the article mentions the non-disclosure of pricing terms and exchange names, the listing is said to be done on the Nasdaq, as per NextBigWhat’s Ashish Sinha. The IPO was previously speculated to value the firm around USD 400-800 billion.
Headquartered in Noida, HomeShop18 was launched in 2008 as India’s first 24-hour Home Shopping TV channel. It made its foray in ecommerce in 2011 and launched its mobile version on Android and iOS in the beginning of the year 2013.
Till date it has raised a total of USD 65 million in 3 rounds of funding. Investors include Network18, GS Home shopping and SAIF Partners. However, as stated by VCCircle’s team, the investors are not looking for an exit with the public offering.
To be noted, this is the third internet company backed by SAIF partners which is going public. The previous IPO’s included that of JustDial in 2013 (listed in India) and MakeMyTrip in 2010 (listed in US).
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