Meesho Targets $5.9 Bn IPO Valuation, Files Papers to Raise ₹4,250 Cr

Ecommerce platform Meesho is targeting a post-money valuation of around $5.93 billion (or ₹52,500 crore) for its proposed initial public offer (IPO), MoneyControl reported.

As per the report, following roadshows and discussions with investors, the Bengaluru-based firm has now finalised its valuation and is gearing up to list soon. Meesho is also reportedly planning to launch its IPO in early December.

It filed draft papers with Sebi in July via the confidential route, followed by the UDRHP-1 (updated draft red herring prospectus) on 18 October. The UDRHP-2 is expected to be filed shortly, possibly as early as next week.

As per the UDRHP-1, Meesho is looking to raise ₹4,250 crore through a fresh issue, with an offer for sale of up to 175,696,602 equity shares. Elevation Capital, Peak XV, Highway Series 1, Y Combinator Continuity Holdings, and promoters Vidit Aatrey and Sanjeev Kumar are among the key selling shareholders listed in the UDRHP-1. SoftBank and Prosus are also among Meesho’s major investors.

Objects of Offer

The objects of the offer include several key priorities. First, the company plans to invest in cloud infrastructure through its subsidiary, Meesho Technologies Private Limited (MTPL).

It also intends to allocate funds toward the salaries of existing and new hires in the machine learning, AI, and technology teams to support ongoing AI and tech development at MTPL.

In addition, a portion of the proceeds will be directed to MTPL for marketing and brand-building initiatives. Finally, the company aims to fund inorganic growth through acquisitions and other strategic initiatives, along with general corporate purposes.

Meesho IPO

Meesho is preparing for its IPO with a valuation of around $5 billion, a figure that is slightly below its earlier target of $10 billion. The company plans to sell roughly 10% of its shares through a combination of fresh issuance and offer-for-sale, with investors such as Peak XV Partners, Elevation Capital, Venture Highway, and Y Combinator participating.

In FY24, Meesho reported revenue of ₹7,615 crore, up from ₹5,735 crore in FY23 and ₹3,240 crore in FY22, demonstrating steady growth. However, its losses widened to ₹3,941 crore in FY25, largely due to costs linked to shifting its headquarters from Delaware to India. The company also posted a net loss of ₹289 crore in Q1 FY26.