Meesho mobilises Rs 2,439 crore from anchor investors ahead of IPO

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SoftBank-backed e-commerce platform Meesho on Tuesday announced that it has raised a little over Rs 2,439 crore from anchor investors ahead of its initial public offering (IPO). The anchor allotment saw strong interest from both domestic and global institutional players, including SBI Mutual Fund, Fidelity Funds and BlackRock.

According to market sources, the anchor book drew demand of more than Rs 80,000 crore, translating into nearly 30 times oversubscription. A total of 60 investors participated, including major international names such as the Government of Singapore, the Monetary Authority of Singapore, Tiger Global, Goldman Sachs, and Morgan Stanley. On the domestic side, leading mutual funds like SBI MF, UTI MF, Tata MF, Axis MF, Motilal Oswal MF, Bandhan MF and HSBC MF received allocations, a circular on the BSE website showed.

Meesho has allotted 21.97 crore shares at ₹111 per share, raising Rs 2,439.5 crore through the anchor portion. The company is targeting Rs 5,421 crore from the IPO, which opens on December 3 and closes on December 5. The price band has been set at Rs 105-111, valuing the company at Rs 50,096 crore (USD 5.6 billion) at the upper end.

The IPO includes a fresh issue of Rs 4,250 crore and an offer for sale (OFS) of 10.55 crore shares worth Rs 1,171 crore at the top of the band. The OFS will see early investors such as Elevation, Peak XV, Venture Highway and Y Combinator selling part of their holdings.

Meesho intends to use the funds for investments in cloud infrastructure, marketing and brand-building, inorganic growth through acquisitions, and other general corporate purposes. The company is scheduled to list on December 10. Of the total issue size, 75% is reserved for qualified institutional buyers, 15% for non-institutional investors, and 10% for retail investors.

In FY25, Meesho connected more than 5 lakh transacting sellers with 199 million annual transacting users, facilitating 1.8 billion orders. Its Net Merchandise Value (NMV) rose 29% year-on-year to Rs 29,988 crore in FY25, following 21% growth in FY24. NMV reflects the total checkout value of successfully delivered orders, including taxes, and is considered a key indicator of customer adoption and repeat usage.

On the financial front, Meesho reported a net loss of Rs3,942 crore in FY25, largely due to one-time exceptional items such as reverse flip tax and perquisite tax associated with its transition to a public company structure. The company significantly reduced its losses in the first half of FY26 to Rs 700.72 crore, compared to Rs 2,513 crore in the same period last year. Revenue from operations for the six months ending September 2025 increased to Rs 5,577.54 crore, up from ₹4,311.29 crore a year earlier.

*With Agency Inputs