SoftBank-backed Snapdeal targets $250-mn IPO in early 2022: Report

Snapdeal would become the largest tech company to test investors' appetite for IPOs after the disastrous debut of Paytm's parent, One 97 Communications Ltd

Snapdeal, the Indian online retailer backed by SoftBank Group Corp. and Alibaba Group Holding Ltd., plans to file preliminary documents for an initial public offering of as much as $250 million in the next few weeks, according to people familiar with the matter.

The e-commerce giant aims to go public in early 2022 after filing the draft red herring prospectus, or DRHP, the people said, asking not to be identified talking about a private matter. Snapdeal, once considered the fiercest rival to Amazon.com Inc. and Walmart Inc.’s Flipkart in the world’s fastest-growing major online arena, plans to raise at least