E-commerce platform Meesho to raise $484 million in Indian IPO via fresh issue

Indian e-commerce platform Meesho is looking to raise 42.5 billion rupees (about $484 million) in its initial public offering through a fresh issue, its updated prospectus showed, months after Reuters reported it confidentially filed draft papers.

WHY IT'S IMPORTANT

Meesho's share offering comes at a time when the Indian IPO market is on track to surpass last year's record $20.5 billion, with up to $8 billion offerings expected in the final quarter of 2025.

Meesho has grown faster than the overall Indian e-commerce market over the last two years in terms of its gross merchandise value (GMV), its prospectus showed, citing Redseer Research.


The company competes with Walmart-backed Flipkart and Amazon in India.

BY THE NUMBERS

Meesho's IPO consists of a fresh issue of shares worth 42.5 billion rupees, according to the updated prospectus dated October 18.

Its existing shareholders, including Elevation Capital, Peak XV and Venture Highway, will together sell 175.7 million shares through the offering.

While the prospectus did not disclose the total IPO size, the Economic Times reported it to be 58-66 billion rupees, citing sources.

As of June 30, Meesho's market share in the home, kitchen and furnishing e-commerce industry was at 23%-25%, in terms of GMV, according to the updated prospectus.

Its consolidated loss before exceptional items and tax narrowed to 1.08 billion rupees in the financial year ended March 30, 2025, from a 3.15 billion rupee loss a year ago.

($1 = 87.7775 Indian rupees)