Bengaluru-based online shopping platform Meesho has received approval from its shareholders to go public by launching an Initial Public Offering (IPO) worth ₹4,250 crore (about $500 million). This approval was given during a special meeting of the company.
The IPO will include both a fresh issue of shares and an offer for sale by some current investors. Meesho has chosen the confidential route to file its IPO papers with SEBI (Securities and Exchange Board of India), meaning the details will not be made public immediately.
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Key Developments:
- Meesho recently shifted its base from the US to India.
- Its co-founder Vidit Aatrey has been appointed as the company’s Chairman, Managing Director, and CEO.
- Big investors like Elevation Capital, Peak XV Partners, and Prosus each hold around 13-15% in the company.
- SoftBank owns nearly 10%, and other investors include WestBridge Capital and Fidelity.
Financial Snapshot:
- Meesho was last valued at around $3.9 billion, a little below its earlier peak of $5 billion.
- It raised $550 million in its last funding round, mostly through existing investors selling their shares.
- Meesho added 1.1 million new employee stock options, making a total of 7.5 million options for its employees.
Business Growth:
- According to investor Prosus, Meesho delivered over 1.8 billion orders in FY25, a 37% jump from the 1.3 billion orders in FY24.
A First in India:
Meesho is on track to become the first horizontal (general product range) e-commerce company to be listed on the Indian stock market. Flipkart is also preparing to move its base to India ahead of its own IPO planned for next year.
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Other well-known internet-based companies like Groww, Urban Company, Boat, PhysicsWallah, Shiprocket, Lenskart, and Wakefit are also getting ready for public listings soon.
