News > Snapdeal defers $152 mn IPO indefinitely citing poor market conditions

Snapdeal defers $152 mn IPO indefinitely citing poor market conditions

SoftBank-backed e-commerce company Snapdeal has deferred its IPO plans through which it was aiming to issue equity shares worth $152 million, becoming the most recent entrant in a long line of companies shelving their listing plans this year. Snapdeal, which competes with other e-commerce giants like Amazon, Flipkart and Meesho, recently lost its coveted unicorn status after the company’s valuation dipped below $1 billion amid widespread valuation markdowns.