Home / Knowledge / News / Textiles / Shopclues eyes Rs 1320cr infusion with IPO foray
Shopclues eyes Rs 1320cr infusion with IPO foray
19
Nov '15
Online marketplace Shopclues is in talks to raise $150-200 million (Rs 990-1,320 crore) at a valuation of $650-700 million to double its estimated worth in under a year and inch closer to its billion dollar rivals, according to media reports.

The e-commerce company is also contemplating an initial public offering, according to Sanjeev Aggarwal, a director on the board of Shopclues. The company has not submitted documents for an initial public offering (IPO) with market regulator the Securities & Exchange Board of India.

Shopclues which ranks behind Flipkart, Snapdeal and Paytm in terms of sales, raised $100 million from New York-based hedge fund Tiger Global Management in January in a round that valued the company at $350 million. According to sources, Tiger Global is expected to invest in Shopclues again in its latest fundraising round.

Radhika Aggarwal, chief marketing officer at Shopclues, confirmed the company was in talks to raise funds but declined to comment on the valuation or a potential share sale.

Soaring valuations of Indian ecommerce firms this year have become a serious concern for investors, who are holding back their money and forcing companies to focus on strengthening business models. In recent months, several startups have struggled to raise capital meant to grow their businesses. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Apparel/Garments | On 29th May 2017

Christopher & Banks Corporation Q1 2017 sales down 11.5%

The net sales of Christopher & Banks Corporation for the first...

Apparel/Garments | On 28th May 2017

Over 45% US retailers to use AI in next 3 years: Report

Over 45 per cent retailers in the US plan to utilise artificial...

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Interviews View All

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search