SoftBank-backed ecommerce platform Snapdeal, which is likely to file its IPO draft papers in the next few months, has appointed two Environment Social Governance (ESG)-focused directors: Kaushik Dutta and Richa Arora.
The key appointments come ahead of Snapdeal’s Rs 3,000 crore ($400 million) IPO.
Dutta, chairman of Zomato, is also on boards of PolicyBazaar and HCL Infosystems; and Arora is managing partner and CEO for ESG Stewardship Services at ECube Investment Advisors and has also been on the board of Tata Group's e-commerce venture.
Persons in the know said Snapdeal is considering filing draft papers in the next few months, joining a growing list of startups preparing to tap capital markets as the nation’s digital economy booms.
Founded by Kunal Bahl in 2010, the new appointments on the board will enable it to focus on ESG. The ecommerce platform could be valued at around $2.5-3 billion.
The total amount raised through IPOs in India so far has surpassed the total gathered in the last three years with IPOs like Nykaa, Paytm, Policybazaar expected to hit in the next few weeks.
