SaleBhai’s IPO has been a trending news from the past few days. And with a confirmation, it has been reportedly announced that the early-stage B2C e-commerce startup is now all set to make an initial public offer (IPO) on the 27th July 2018.
As stated earlier in one of our articles, Salebhai is the first startup to raise funds through public route by getting listed on BSE SME platform at such an early stage. With BSE SME in principle approval received on 22nd May 2018, the Ahmedabad-based online company is all set to be the first B2C e-commerce company to raise money through IPO under the BSE SME platform.
Also Read: https://pixr8.com/entrepreneur/exclusive-interview-of-salebhai-founders-prior-to-the-launch-of-ipo/ for the exclusive interview of co-founder Vishwavijay Singh with Pixr8 News.
Following the IPO, SaleBhai will issue 22,59,600 equity shares accounting for 26.58% of the company’s equity in the market. Through this public offering, the company is expecting to raise Rs 23.73 crores. The funds so raised are expected to be utilized in the further growth of the venture through the improvement in the IT platform, increase in customer acquisition, an addition of more authentic sellers as well as product categories, and make the customer experience even more hassle-free and effortless.
“SaleBhai is at the cusp of an unforgettable transformation. I am extremely proud of the work the SaleBhai team has done to bring the company to this point and bring smiles to thousands of faces that were missing the taste of home. Now, we will take the heart-warming feeling of nostalgia and the taste of home that our products offer as a business model into the market, and expect a positive reaction. We are grateful to our customers, our existing investors, and our wonderful team on this occasion,” stated Vishwavijay Singh, Co-founder, SaleBhai.com.
Salebhai.com is an online platform where people can order a range of specialties directly from their hometowns all across India. The company basically focuses on the requirements of diaspora communities living in big Indian cities as well as those who live out of the country. The range of products on their website include consumable items such as chocolate, namkeen, sweets, bakery, spices, beverages, dry fruits, and pickles. Along with this, it also includes products like handicrafts, paintings, puja items, handloom goods, and herbal & wellness items.
The company showed a good response from the existing customers and such interest from the customers convinced the company to raise money from the general public through an IPO. We have been looking forward to SaleBhai’s IPO launch for a few days and finally, it has been launched.
Also Read: https://pixr8.com/market/online-startup-salebhai-received-bse-approval-for-sme-ipo/ for the previous article on SaleBhai’s IPO.