StyleAdda.com is attracting attention of various private equity investors around the world as they expect it to become next Amazon.com of India.

November 28, 2011 /India PRwire/ -- StyleAdda.com, India's largest upcoming online shopping mall touched new record of valuation as a bunch of private equity investors from Dubai has offered US $31 million or INR 161 crore for a 10% stake in the mega online project. The move came after the Indian government has allowed 51 per cent foreign direct investment (FDI) into the multi brand retail sector. StyleAdda.com will also open several stores in the metro cities of India catering to beauty, garments and computer hardware segments.

StyleAdda.com is the first e-commerce company to get benefited from the Indian government's FDI decision. StyleAdda.com will also list on Exhilway's private capital market website in January next year where it will auction its shares to PE investors and general public before it goes for an IPO.

"Let the markets decide our net worth, we are still completing the online shopping mall. We have some large investment offers in hand but we are cautiously deciding whom we will partner," said Garima Malhotra, Chairman of StyleAdda Retail India.

StyleAdda.com will generate job opportunities for over 5,000 people when it will go live in January next year. As the internet penetration in India is increasing and shopping online is becoming safer StyleAdda.com can expect huge growth in business.

"Indian retail market is now open to the world, increased awareness about e-commerce among the Indian public will certainly help our business. We are not competing against small shop owners; here the business model is different. Our task is to get the best deals from the manufacturer and pass on the benefit to the public. I feel the growing inflation in India somewhere down the line will make public more price conscious which indirectly can both benefit and harm various retail models," said Rahul Malhotra, Vice Chairman of StyleAdda Retail India.

According to few insiders StyleAdda.com will list goods worth US $29 million or INR 1500 crore on its website with heavy discounts. StyleAdda.com has become the hot investment target for various PE investors around the world as they are expecting it to become the next Amazon.com of India, however some PE investors is finding it a bubble and is staying away from investing in it unless the project finally takes off.

Source: Press release distribution via India PRwire

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