Bengaluru-based e-commerce platform Meesho, which is backed by marquee investors like Elevation Capital, Peak XV Partners, Prosus, and SoftBank, is set to launch its initial public offering (IPO) for subscription on December 3. This would be the second public issue hitting Dalal Street on the same day.
The company aims to raise Rs 4,250 crore via fresh issue, while public shareholders will be offloading 10.55 crore equity shares via offer-for-sale.
Elevation Capital, Peak XV Partners, Golden Summit, Y Combinator, and promoters are among selling shareholders in the offer-for-sale.
Moneycontrol reported last week that value-focused e-commerce major Meesho, which competes with Walmart's Flipkart and Amazon, is targeting a post-money valuation of around $5.93 billion or Rs 52,500 crore for its IPO.
The anchor book of the Meesho IPO will be launched for a day on December 2, while the offer for public will remain open till December 5.
The company will finalise IPO share allotment by December 8, and its shares will be available for trading on the bourses effective December 10.
Meesho has reserved up to 75 percent of its offer size for qualified institutional buyers, 15 percent for non-institutional investors, and the 10 percent for retail investors.
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The Vidit Aatrey and Sanjeev Kumar-founded company claims as largest (in terms of number of placed orders and annual transacting users) among e-commerce players in India in the last twelve months period ended September 2025, according to the Redseer Report.
Promoters own 18.5 percent shareholding in Meesho, while 81.50 percent shares are held by public shareholders. Elevation Capital (15.11 percent stake), Prosus' Naspers Ventures (12.34 percent), and Peak XV Partners (11.3 percent) are the largest shareholders in the company, followed by Softbank-owned SVF II Meerkat (9.3 percent), and WestBridge Crossover Fund (3.92 percent).
The low-cost e-commerce platform will spend Rs 1,390 crore of fresh issue proceeds for cloud infrastructure in its subsidiary Meesho Technologies, and Rs 1,020 crore for marketing and brand initiatives of the same subsidiary.
Further, Rs 480 crore will be used for payment of salaries of existing and replacement hires for the Machine Learning and AI and technology teams for AI and technology development undertaken by the same subsidiary, and the remainder fresh issue funds for inorganic growth and general corporate purposes.
Meesho that competes with several listed peers like Eternal, Swiggy, Brainbees Solutions, Nykaa, Vishal Mega Mart, Trent, and DMart has narrowed its loss to Rs 700.7 crore for six months period ended September 2025, compared to loss of Rs 2,512.9 crore in same period last year. Revenue during the same period surged 29.4 percent to Rs 5,577.5 crore, up from Rs 4,311.3 crore.
The loss in the fiscal 2025 widened to Rs 3,941.7 crore, compared to Rs 327.6 crore in previous year. Revenue in the same fiscals soared 23.3 percent to Rs 9,389.9 crore, increasing from Rs 7,615.1 crore.
The SEBI on October 14 has cleared the IPO papers of Meesho filed via confidential route in July this year. After receiving approval for the document, the company filed an updated DRHP on October 18 this year.
The merchant bankers managing the Meesho IPO are Kotak Mahindra Capital Company, JP Morgan India, Morgan Stanley India Company, Axis Capital, and Citigroup Global Markets India.
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