Meesho Announces $606 Million IPO

Staff Report: PNN

Indian e-commerce company Meesho, competing with Amazon and Flipkart, is set to announce an initial public offering (IPO) worth approximately $606 million. Early investors will sell some shares, but major investors such as SoftBank and Prosus will not, showing confidence in India’s rapidly growing online market.

The nearly ten-year-old Meesho will price shares at ₹105–111, raising about ₹42.50 billion (~$475 million) in new capital. After the IPO, the company’s market value will be around ₹501 billion (~$5.6 billion). Founded in 2015, Meesho initially targeted new online buyers via WhatsApp as a social commerce platform. Today, it has become a full-fledged marketplace.

Among early investors, Elevation Capital will sell about 4% of its shares, Sequoia Capital’s sub-firm Pick XV Partners around 3%, and Y Combinator about 14%. SoftBank, Prosus, and Fidelity will not sell shares.

Meesho primarily serves price-conscious Indian customers and small businesses using a low-cost model. Revenue comes mainly from logistics fees, advertising, and other services, with commissions on products sold through its Meesho Mall channel.

As of September 2025 (six months), Meesho generated ₹55.78 billion (~$624 million) in revenue, up from ₹43.11 billion last year. However, pre-tax losses rose to ₹4.33 billion (~$48.4 million) from ₹0.24 billion the previous year.

In the past 12 months, 23.4 million unique users purchased at least one product, and 706,471 annual transacting sellers received at least one order. Meesho also has over 50,000 active content creators who helped sell products through their content.

The general public can subscribe to shares starting December 3. The anchor book is scheduled for December 2. About 75% of the offering is reserved for qualified institutional buyers, 10% for retail investors, and 15% for non-institutional investors.