Indian e-commerce company Meesho is preparing to enter the stock market with its Initial Public Offering (IPO).
Sources close to the matter told Moneycontrol that Meesho is targeting an IPO size of around $1 billion (₹8,500 crore).
The company has already appointed Morgan Stanley, Kotak Mahindra Capital, and Citi as investment advisors for the IPO process.
If all goes as planned, Meesho could launch its IPO before its competitor, Flipkart, which is also eyeing a public listing.
Walmart-owned Flipkart has yet to set a final deadline for its IPO, while Meesho is planning to go public this year.
Notably, Meesho has received investments from several major firms, including SoftBank.
Meesho is aiming for a valuation of $10 billion (₹85,000 crore) for its IPO. This is a significant leap from its last valuation of $3.9 billion during a 2024 funding round, representing a 2.5 times increase.
Sources suggest that Meesho may soon add JP Morgan to its list of investment advisors.
The company is expected to file its IPO application with the Securities and Exchange Board of India (SEBI) in the coming weeks, with a potential listing set for September or October, around Diwali.
At the time of writing, Meesho, Citi, Morgan Stanley, JP Morgan, and Kotak Mahindra Capital have not officially commented on the matter.
Before launching the IPO, Meesho must relocate its headquarters from Delaware (USA) to India.
This process is in its final stages, but it may incur a tax liability of $300 million (₹2,500 crore) to complete the move.
Although Meesho entered the e-commerce market later than competitors like Flipkart and Amazon (in 2015), the company has made significant strides, particularly in smaller towns and rural areas.
Meesho has shown strong growth in both revenue and profitability, as shown in the following financial figures:
| Financial Year | Revenue | Net Loss |
|---|---|---|
| FY22 | ₹3,240 crore | ₹3,248 crore |
| FY23 | ₹5,735 crore | ₹1,000 crore |
| FY24 | ₹7,615 crore | ₹305 crore |
Meesho’s growing business and rapid expansion position it as a strong competitor in the Indian e-commerce sector, and its upcoming IPO is expected to attract significant attention.
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