Snapdeal increases authorised capital to Rs 15 cr

Jasper Infotech-owned leading e-tailer Snapdeal increased authorised capital from initial capital of Rs 10 lakh to Rs 15 crore by issuing an additional 8.82-crore shares of Re 1 face value, said business intelligence platform Paper.vc on Monday.

"The company`s second Extraordinary General Meeting (EGM) for fiscal 2018-19 on August 6 passed a resolution to increase the authorised equity share capital from Rs 10 lakh with an additional 8.82 crore shares of Re 1 face value, aggregating to Rs 15 crore," said the Chennai-based Paper.vc in a statement.

Co-founded by Kunal Bahl and Rohit Bansal in 2010, the Gurgaon-based e-commerce player is an online platform to shop for a range of products spanning electronics, mobile, clothes, shoes, home and kitchen appliances and personal care.

TRENDING NOW

Nine more airports to come up in UP in next two years: Scindia

Sovereign Gold Bond 2023–24: Next tranche to open next week; all you need to know

"Unfair, unjust and arbitrary": TMC leader Mahua Moitra moves Supreme Court against expulsion from Lok Sabha

Bank Nifty outperforms Nifty: Will the run-up continue?

BPCL dividend: Bharat Petroleum Corp shares to trade ex-date on Tuesday

Coca Cola India forays into Alcohol segment alcoholic beverage stocks Radico Khaitan, UBL, Sula Vineyards, Som Distilleries shares rise Tilaknagar Industries stock declines

1,178% return in 2 years: This NBFC stock hits upper circuit for second consecutive session

Sensex touches 70,000 for first time, Nifty scales fresh peak; What's driving the indices higher?

Royal Enfield opens first warehouse in eastern region

GMR Airports' shares fly high; here's everything you need to know

MRP includes GST, consumers must not pay any additional charges: MoS Finance Pankaj Singh in Lok Sabha

IMD in Karnataka predicts rain for two days in Bengaluru, 12 districts

Tata Power shares near record high after power generator joins hands with Indian Oil to set up EV charging points

PSU Alert! Hindustan Aeronautics shares hit fresh 52-week high - Check HAL price target

Curb on cane juice for ethanol may reduce blending but boost sugar production: Crisil

Snapdeal terminated merger talks with its rival and the country`s largest e-tailer Flipkart on July 31, 2017, ostensibly to pursue an independent path.

Ratan Tata of the Tata group and Wipro Chairman Azim Premji`s investment arm PremjiInvest are retail investors in Snapdeal, while Softbank, Teachers` Pension Plan, Foxconn, Temasek and BlackRock are institutional investors.

Watch Zee Business video here:

Snapdeal`s fortunes dwindled in the face of stiff competition from Flipkart and the Indian arm of the US-based world`s largest e-tailer Amazon.