Subscribe for Meesho Ltd IPO; Geojit Financial Services

Geojit Financial Services, has come out with its report on Meesho Ltd. The research firm has recommended to “ Subscribe” the ipo in its research report as on December 03, 2025.

Broker Research

December 04, 2025 / 10:11 IST

IPO

Geojit Financial Services, Meesho Ltd

Meesho, founded in 2015 (formerly FashNear Technologies Pvt. Ltd.) and headquartered in Bengaluru, is an Indian e-commerce platform that began as a social commerce app and has grown into a major online marketplace for affordable products, especially in Tier-2 and Tier-3 cities. Operating on a zerocommission model, it connects consumers, sellers, logistics partners, and content creators on a single platform. Meesho has also launched Valmo, its assetlight, tech-driven logistics arm designed to streamline deliveries, lower costs, and improve efficiency. India’s e-commerce market is valued at around ₹6 trillion in gross merchandise value (GMV) for FY25 and is expected to grow at a 20–25% CAGR, reaching ₹15–18 trillion by FY30. Meesho’s revenue expanded at a 28% CAGR between FY23 and FY25, rising to ₹9,390cr, driven by growth in order volumes and greater adoption of value-added services by sellers.

Valuation and Outlook

Its strong presence in Tier-2+ cities, zero-commission model, and focus on affordable products create a sustainable growth moat. Therefore, we recommend a SUBSCRIBE rating for investors with a long-term horizon.

For all IPO report, click here