Naaptol plans to raise ₹1,000 cr through IPO

Naaptol was founded in 2008 as a TV-first platform for product discovery. It sells products through TV channels in several languages ​​including Hindi, Tamil, Telugu, Malayalam and Kannada.

“The company is already working on its draft prospectus. He is being advised by investment banks ICICI Securities and Anand Rathi. The proposed IPO will be a mix of primary and secondary share sales as some of the company’s current backers are looking to sell part of their shares in the IPO, while the new fundraising will be used to strengthen its back-end and online shopping portal. ,” said one of the people above, requesting anonymity.

“The company hopes that its omnichannel platform with a mix of teleshopping and ecommerce will help it stand out from other ecommerce companies and attract investors,” he added.

Naaptol is backed by investors such as Japan’s Mitsui & Co., JP Morgan and venture capital investor New Enterprise Associates. Naaptol raised $15 million from these investors in 2018 and $51.7 million in 2015 in larger funds.

Naaptol founder and CEO Manu Agarwal declined to comment on the company’s IPO plans.

While the company saw a decline in revenue for FY21, it managed to convert a marginal profit as compared to a loss in the previous fiscal. It recorded a consolidated revenue of 318.87 crore in FY 2011, as against 321.22 crore in FY20.

However, it managed to swing its operations with the loss of There was a profit of 51.84 crores in the financial year 2010 3.42 crore in FY 2011.

The Indian IPO market is witnessing vigorous activity after increasing the record 1.18 trillion in calendar year 2021. Overpriced IPOs 1 trillion are already in the pipeline.

Companies such as Adani Wilmar Ltd and AGS Transact Technologies have started their initial share sale in January and ethnic wear retailer Manyavar’s share sale will begin next week.