Snapdeal eyes listing on US bourses to raise funds

Earlier this year,the government allowed unlisted Indian companies to raise capital overseas without prior or subsequent listing in India.

Eyeing to raise more funds to fuel its expansion,homegrown online marketplace Snapdeal is looking at listing on the US bourses in the next two years.

We are talking to our lawyers on how to go about this (overseas listing). We are looking at the US market as it is better exposed to investors and technology driven firms have received a good response there, Snapdeal co-founder and CEO Kunal Bahl said.

Earlier this year,the government allowed unlisted Indian companies to raise capital overseas without prior or subsequent listing in India for an initial period for two years.

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Prior to this,unlisted companies were required to either list in the domestic market before or simultaneously while seeking to issue such overseas instruments.

Listing allows access to easy liquidity and one has the option of raising more money for growth. Staying unlisted,on the other hand,has its own benefits, Bahl said,adding that the company aims to be listed in the next 12-24 months.

The provision is currently for two years itself. We do not know whether that will be extended or not. So,we plan to get the listing done in the next 12-24 months itself, he said.