Tata’s stake in Snapdeal is biggest for Indian e-commerce

Tata Sons chairman emeritus Ratan Tata holds less than 1% stake in Snapdeal, India’s largest online marketplace, according to documents filed by the company with the ministry of corporate affairs (MCA).

The total value of the 73-year-old billionaire’s 0.17% stake in New Delhi-based Snapdeal as of September, translates to $3.1 million (about Rs 20 crore) to $3.4 million (about Rs 21 crore), taking into account the latest round of funding raised by the company, estimated at $627 million (Rs 3,880 crore), and which valued it at between $1.8 billion (Rs 11,147 crore) and $2 billion (Rs 12,386 crore), post-money, in October earlier this year.

However, Tata’s investment, which was made in his personal capacity and was announced in August earlier this year, is being seen as the biggest endorsement of India’s nascent, yet hyper-competitive e-commerce industry, given his stature as corporate India’s biggest brand ambassador.

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