Snapdeal withdraws $152 million IPO plan

According to Reuters, Snapdeal has chosen to revoke its regulatory filings for an initial public offering (IPO) because of “current market conditions.”

Depending on future capital requirements and market conditions, the e-commerce company may decide to reconsider an IPO, it was added. The IPO of Snapdeal, which is backed by SoftBank, was supposed to include a new share issue worth Rs. 1,250 crore.