Ahmedabad-based etailer for regional goods Salebhai has filed a Draft Prospectus (DP) with the SME platform of BSE Ltd.\r\n\r\nWith this, the startup becomes the\u00a0first B2C ecommerce startup looking to raise money through public route at an early stage.\r\n\r\nThe startup expects its IPO to take place in July for which it is issuing 22,59,600 equity shares, offering 26.58% of the company\u2019s equity in the market, and will be listed on the Bombay Stock Exchange\u2019s (BSE) SME Platform.\r\n\r\nIt is looking to raise $3.48 Mn (INR 23.73 Cr) and use it towards growing the company through increased customer acquisition, improved IT platform, the addition of more authentic sellers as well as product categories, and make the customer experience even smoother and effortless.\r\n\r\nCommenting on the IPO, Vishwavijay Singh, Co-founder, SaleBhai, said, \u201cWe started this company to address not just a need, but a sense of belonging. Our mission \u2013 to take people back to their roots for just a moment and connect to their roots \u2013 has now helped us build a commercially successful company that is going public. We are proud of this moment, and look forward to having our company listed as we continue getting bigger and stronger."\r\n\r\nSaleBhai was launched in September 2015 by Vishwa Vijay Singh and Purba Kalita. The startup aims to be a discovery platform for diaspora (migrant) communities to source authentic products from their native place.\r\n\r\nIt enables people living away from home order a range of specialities directly from their hometowns and by doing so, it is becoming a discovery platform for all unique items across India.\r\n\r\nThe list of products includes sweets, chocolates, bakery items, spices, dry fruits, beverages, pickles, handicrafts, paintings, among others. These products are supplied globally from a vendor base of 400 from over 100 Indian cities.\r\n\r\nVishwa Vijay had earlier told Inc42 that the portal operates solely on the marketplace model, and has low operational costs. Also, he claimed to have 22% repeat customers on the platform.\r\n\r\nThe startup has raised more than $1.5 Mn capital from investors like Times Group\u2019s Brand Capital and 71 HNIs among others.\r\n\r\nIn the space, SaleBhai competes with the likes of Petoo.in among others.\r\n\r\nIndia\u2019s ecommerce industry is expected to touch $200 Bn by 2026, as per a report by Morgan Stanley. With a few players in the space catering to native foods, SaleBhai has a huge market to address. The IPO, if\u00a0it goes through, can give a major boost to its plans for expansion and growth.