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HomeShop18 to raise $100 million through US IPO

HomeShop18, the ecommerce and TV shopping brand from Network18,
is planning to get listed in the US and raise about $100 million, reports
Reuters. The group is in talks with institutional investors, including private
equity firms for pre-IPO placement and to take up shares as part of the listing
plan.

HomeShop18, the ecommerce and TV shopping brand from Network18,
is planning to get listed in the US and raise about $100 million, reports
Reuters. The group is in talks with institutional investors, including private
equity firms for pre-IPO placement and to take up shares as part of the listing
plan.

HomeShop18 has a current revenue of Rs 750 crore ($142.13
million) and sells everything from mobile phones, laptops and televisions sets
to apparel and lifestyle products. It plans to set up warehouses with a size of
1 million square feet and is in the process of carrying out internal
evaluations.

“We have ambitions to get listed and are open to it but it
is premature to talk about it now. We cannot give any timeframe on that at the
moment,” Sundeep Malhotra, Founder and Chief Executive Officer, HomeShop18 has said.

Between 2007 and 2008, HomeShop18 raised $26 million from
private equity fund SAIF Partners in two tranches and in 2009 it raised $18.5
million from South Korean home shopping retailer GS Home Shopping.

 “We will
focus on investments in technology and operational capabilities like a strong
and efficient backend…We are hoping our business will be three times the
current size in the very next year,” Malhotra said.

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