Snapdeal sale may get delayed. Here’s why

Snapdeal’s sale to Flipkart may get delayed as Wipro’s Azim Premji has sought clarity.

The investment arm of Premji- PremjiInvest – that holds a minorty stake in Snapdeal wants to know how rights of minority shareholders will be protected in the event of the sale being finalised.

As per reports, Premji has sought more clarity on the terms.

Meanwhile, PremjiInvest is also approaching other minor stakeholders who plan to oppose special payouts to certain shareholders.

Such payouts are expected to be made to early investors like Nexus Venture Partners and Kalaari Capital, besides company founders Kunal Bahl and Rohit Bansal, ET quoted a source as saying.

PremjiInvest has asked questions regarding transactions and special payments.

This delay from PremjiInvest may not go down well with SoftBank.