Said to be in talks with the founders to sell the stake, once valued at Rs 3,000 crore, at Rs 40-50 crore now.
VC firm Kalaari Capital is said to be planning to sell part or the entire 8 percent stake in Snapdeal to its founders, according to a report in The Economic Times.
The technology and consumer-internet focused venture capital firm is in initial stage of talks, the publication reported, citing sources. If the deal sails through, it is estimated to be worth just Rs 40-50 crore. This indicates a massive discount for its holding which was worth over USD 450-500 million (over Rs 3,000 crore) when the company was valued at USD 6.5 billion.
Further, the report also added that Kalaari Capital has also held conversations with other investors for the sale of its shares in the company. However, the number of parties involved in it is yet to be ascertained.
There is no confirmation about the stake sale from either parties.
