Snapdeal is in initial talks with Indian bankers to explore a public listing in India to see the company raise $300-400 million, four people close to the development said. The company is expected to arrive at a final decision about the listing in three to four weeks, two of the four people aware of the discussion.

The company is talking to JM Financial Ltd and another local banker, they said, requesting anonymity.
Snapdeal declined to comment on Mint’s queries on the matter. If the company goes ahead with its listing plans, it is expected to ask for a valuation of more than $2 billion, said one of the four people.

• Shares of Shriram Pistons skyrocketed 9% on Acquiring Antolin Lighting
• Stocks in Focus: Lloyds Engineering, SEAMEC, RailTel, and Others
• Overnight Stock Market Movements: Key Developments 
• Stocks Under F&O Ban: Bandhan Bank, and Others
• India, Canada Hold Talks to Resume Trade Pact Negotiations

“While the company is in talks with bankers, it is still formulating its plans on the listing. Currently, the float size and valuations are being discussed,. The bankers are expected to come back with a formal reply in the coming three to four weeks, post which Snapdeal will make a final decision,” said the first person among the four individuals. “Most of the groundwork has been done for the company to now turn towards the public market,” the person added.

The news around Snapdeal’s listing comes when Indian unicorns and startups are lining up to list on Indian exchanges. The second half is expected to see unicorns, including beauty marketplace Nykaa, insurtech and lending platform PolicyBazaar, logistics major Delhivery and Noida-based financial major Paytm, list on Indian exchanges.