Meesho is focusing on a December 2025 itemizing on Indian bourses, sources within the know mentioned.
The Bengaluru-based firm plans to boost roughly Rs 5,800–6,600 crore ($700–800 million) through the providing, which features a main challenge of Rs 4,250 crore ($500 million).
In keeping with the up to date prospectus, Elevation Capital is promoting the most important chunk within the OFS, adopted by Peak XV Companions and Enterprise Freeway. Founders Vidit Aatrey and Sanjeev Barnwal, who’re tagged as the corporate’s promoters, are additionally partially offloading their stake in Meesho.
Meesho’s itemizing will add to a set of sizeable IPOs by Indian new-age corporations this 12 months.
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Onmnichannel eyewear retailer Lenskart is preparing for a Rs 8,000-crore issue aiming for a November itemizing, whereas stockbroking startup Groww can be trying to go public with a Rs 7,000-crore offering subsequent month.
Elevation Capital, Peak XV Companions and Prosus personal 13-15% stake every in Meesho. Japanese investor SoftBank owns near 10% stake within the etailer targeted on worth retailing at cheaper price factors. Different traders within the firm embody WestBridge Capital and Constancy.
Meesho’s final funding got here by way of a $550-million round, which primarily comprised secondary transactions, by way of which it was valued at round $3.9 billion, down from its peak valuation of $5 billion. This spherical noticed new traders are available in reminiscent of Tiger World, Suppose Investments and Mars Progress Capital.
The net retailer is predicted to carry about Rs 7,500 crore ($900 million) in money put up the itemizing. The contemporary challenge proceeds will probably be used to scale server infrastructure, strengthen company capabilities and assist development.
ET reported on June 28 that Meesho had gained shareholder approval to boost Rs 4,250 crore by way of its IPO and had shifted domicile from the US to India.
Based in 2015, Meesho is trying to benchmark itself towards international ecommerce friends reminiscent of China’s Pinduoduo and TMall and never as a lot with fast commerce corporations like Blinkit, Swiggy’s Instamart or Zepto.
Having began life as a social commerce platform for community-based customers, Meesho later pivoted to pure-play ecommerce and captured the non-metro markets with a agency grip. The corporate additionally launched its logistics vertical Valmo, which now accounts for over 50% of the volumes on {the marketplace}.
Meesho’s rival agency, Walmart-owned Flipkart, can be within the technique of shifting its domicile to India, from Singapore, forward of a deliberate public challenge subsequent 12 months.
Brokerage agency CLSA has estimated India’s on-line retail market to be $80 billion in measurement for fiscal 2025, anticipating it to develop to $196 billion by FY30. The analysis observe by CLSA mentioned that whereas Meesho is bigger than each Amazon and Flipkart when it comes to every day orders, it nonetheless trails the 2 rivals in gross merchandise worth (GMV) phrases.
The brokerage agency additionally identified that round 35% of Meesho’s orders are within the attire class. Nonetheless, this quantity has come down from 63% round three to 4 years in the past because it has been increasing into classes reminiscent of footwear and equipment, kitchen and residential decor, and sweetness and private care at a fast clip.
For the fiscal 12 months ended March 2025, Meesho reported Rs 9,390 crore in working income, up 23% from FY24. It recorded a internet lack of Rs 3,942 crore in FY25 – totally on account of a one-time expense it incurred for a tax payout to shift its domicile from the US to India. This compares to a Rs 328-crore internet loss in FY24.
The corporate recorded a internet merchandise worth (NMV) of almost Rs 30,000 crore in fiscal 2025, which is round 29% larger than FY24. The NMV metric is calculated as GMV excluding returns, cancellations however inclusive of taxes.
The corporate recorded 1.8 billion orders in fiscal 2025, up 37% from the 1.3 billion in FY24. For the quarter ended June 2025, it clocked 561 million orders, marking a 50% development year-on-year.
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