According to the sources, Snapdeal can raise up to $300 in first round of potential fundraiser. So far, it has raised $233 million in two rounds of investments, which was also participated by eBay and Azim Premji's family office, Premji Invest. The latest round in May, valued the firm at $1 billion.

Snapdeal, being one of India's biggest online marketplaces, attracted other Asian conglomerates including Japan's e-commerce giant Rakuten and communications provider SoftBank.

Former Tata Group head Ratan Tata has a personal investment in Snapdeal, which increases the credibility as potential e-commerce company for Alibaba’s Asian flavor to Indian online retail.

Kunal Bahl, co-founder, Snapdeal said, “while lots of external investors are interested in this space, and are very interested in Snapdeal," his company will, "decide when is the right time to raise money, from whom, how much and at what value."

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