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HomeShop18 Applies For $75 Million IPO; FY13 Revenue $40.7M, $167M GMV, $22.5M Loss

(By Nikhil Pahwa & Vikas SN) We've been expecting this: Indian TV and E-commerce company HomeShop18 has filed for a $75 million IPO on NYSE*, via its venture NW18 HSN holding. The company proposes to trade on NYSE under the symbol HS. This becomes the fourth Indian Internet firm to list in the US, after Rediff, Sify and MakeMyTrip. Some notes from the offer document: - 8.9 million consumers have placed orders with Homeshop18 since launch - As of September 30, 2013, the TV channel reached more than 66.5 million households across India, while the e-commerce business had 8.3 million unique visitors during that month (Google Analytics) - A technology-enabled logistics network that allows our Sourcing Partners to deliver products to our customers’ doorstep in over 3,000 towns and cities across India. Usage of Funds HomeShop18 notes it will not receive any proceeds from the sale of ordinary shares by Network18 Holdings Limited and other selling shareholders. Instead, it will receive the rupee equivalent of $42.3 million of the proceeds which Network18 Holdings Limited expects to receive from its sale of ordinary shares in this offering. Following this, HomeShop18 will be using these funds to purchase the equity interest in its Indian subsidiary currently held by Network18 within 45 days of the completion of this offering. HomeShop18 mentions that it may also use a portion of these proceeds for acquisitions or strategic investments in technologies, solutions or businesses which complements the company's business, although it currently doesn't have any such commitments.…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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