SoftBank and Foxconn are both looking to sell shares in the offering, which could represent confirmation of a recovery for the once troubled e-commerce platform operator.
Snapdeal, the India-based e-commerce marketplace that counts corporates SoftBank, Foxconn, Alibaba, Myriad, Bennett Coleman & Co, eBay and Intel as investors, has bounced back from hard times to file for an initial public offering.
The company is targeting Rs 12.5bn ($166m) through the sale of new shares while shareholders including telecommunications and internet group SoftBank, contract manufacturer Foxconn and Sequoia Capital India plan to sell some 30.8 million shares.
Founded in 2010, Snapdeal was at one point the biggest rival…
