Snapdeal has issued shares worth Rs.1,563 crore to Freecharge investors, which was acquired earlier this month for a deal amount of $450 million in cash and stock.
As reported by LiveMint, according to documents available with Registrar of Companies, Jasper Infotech Pvt. Ltd, which backs Snapdeal issued shares worth Rs.1,290 crore to four FreeCharge investors – Sequoia Capital, ru-Net, Valiant Capital and Aquila Investments. Sequoia Capital alone holds shares worth Rs.700 crore.
Also, Jasper Infotech issued preference shares worth Rs.273 crore to FreeCharge co-founders Kunal Shah and Sandeep Tandon, as the documents show.