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Homeshop18 files for $75 million Nasdaq IPO

Tags: homeshop 18, sme, network18, koovs, ipo, nyse, nasdaq, start-up

April 05, 2014 | COMMENTS ( 0 )

Homeshop18 files for $75 million Nasdaq IPO

Homeshop 18 has filed a prospectus to raise a total of $75 million through a listing on the New York Stock Exchange (NYSE) including offer for sale by some shareholders such as its CEO Sundeep Malhotra and parent firm Network18. This will make Homeshop 18 the second Indian e-commerce firm to go public after fashion e-tailer Koovs floated its IPO in London recently.

 

The issue has not been priced yet but it could value the firm at around $500 million. HomeShop18, which operates a television home shopping network and also runs an online marketplace, is part of diversified media house Network18 and is backed by PE firm SAIF Partners and funds managed by OCP Asia. It also counts South Korea's GS Home Shopping as a strategic investor.

 

Headquartered in Noida, HomeShop18 was launched in 2008 as India’s first 24-hour Home Shopping TV channel. It made its foray in e-commerce in 2011 and launched its mobile version on Android and iOS in the beginning of the year 2013.

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