Importantly, greater information availability in being a listed firm may also mitigate the reduction of bank credit during a crisis. How did firms' capital structures evolve after the onset of the GFC in 2008? Did capital structures change only in the countries that experienced a banking crisis, or did they change in many countries, depending on their specific institutional, financial, and macroeconomic characteristics? Were all firms affected equally? Or did firms' market access and size play a role? A priori, it seems important to distinguish between firms that are publicly listed and non-listed, because the former are likely to enjoy better access to capital market financing than the latter. The GFC raised many questions about how financial and macroeconomic instability might affect the capital structures of firms. The Global Financial Crisis (GFC) was transmitted worldwide through financial markets, international banks and trade links, and affected many economic sectors (Imbs, 2010 Ahn et al., 2011 Cetorelli and Goldberg, 2011 Chudik and Fratzscher, 2012 IMF, 2013). What started as a US crisis spread rapidly across both advanced and developing countries. The collapse of Lehman Brothers in September 2008 and the events that followed had tremendous effects on financial markets across the globe. Though our results are robust to many changes in sample and specification, we cannot rule out that survivorship bias and attrition could affect our estimates to some degree. In contrast, there is weaker evidence of a significant decline in leverage and debt maturity among listed companies which are typically much larger than other firms and likely to benefit from the вЂњspare tireвЂќ of easier access to capital market financing. For SMEs, these effects were larger in countries with less efficient legal systems, weaker information sharing mechanisms, less developed financial sectors, and with more restrictions on bank entry. The deleveraging and maturity reduction were particularly significant for non-listed firms, including both SMEs as well as large non-listed companies. We find that firm leverage and debt maturity declined both in advanced economies and in developing countries, even in those that did not experience a crisis. Insurance aggregator PolicyBazaar has also lost all its IPO gains.Using a dataset covering about 276,998 firms across 75 countries over the period 2004вЂ“2011, this paper examines the short-run evolution of firms' capital structures following the start of the global financial crisis and its immediate aftermath, comparing the experience of already levered SMEs, large non-listed firms, and listed companies. While some, including Zomato and Nykaa, have made stellar debuts, others, including Paytm, which filed for the nation's largest IPO, have consistently performed below issue share price. More than half a dozen consumer-focused Indian startups have filed for an IPO this year. In its prospectus today, Snapdeal said it generated an operating revenue of $31.9 million in six months ending in September. The shift in focus came after months-long talks to merge the business with Flipkart didn't materialize in 2017.

'Building Snapdeal 2.0 has meant creating all the required underlying capabilities to serve value-savvy users, staying within the guardrails of good economics and moving fast with bold and decisive steps,' he added. Our users browse and connect with us in seven languages, beyond Hindi and English,' co-founder and chief executive Kunal Bahl (pictured above) wrote in recent LinkedIn post.

And we cover 96% of the pin codes in the country.

More than 70% of our sales are from beyond Tier 2 towns and cities and 99% of our orders come via mobile phones. '75%+ of our business comes from repeat customers. Snapdeal, which has raised more than $1.7 billion to date (according to Crunchbase and Tracxn) says more than 50 million unique customers have shopped at least once on its platform since April 2018.

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