SoftBank-backed e-commerce firm Meesho is aiming to raise ₹5,421 crore through its Initial Public Offering (IPO), which opens for subscription on December 3.
The company has fixed a price band of ₹105-111 per share, valuing Meesho at ₹50,096 crore (USD 5.6 billion) at the upper end. In its public announcement on Friday, Meesho said the maiden public offering will close on December 5, with anchor investors set to receive their allocations on December 2.
The Bengaluru-based company's maiden public offering will comprise a fresh issue of shares worth ₹4,250 crore, along with an Offer For Sale (OFS) of 10.55 crore shares valued at ₹1,171 crore at the upper band, taking the total issue size to ₹5,421 crore.
31 October 2025
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The offer for sale includes sale of equity shares by some of Meesho's early investors, including Elevation, Peak XV, Venture Highway and Y Combinator, and promoters & founders-- Vidit Aatrey and Sanjeev Kumar. Meesho plans to utilise proceeds for investment in cloud infrastructure; marketing and brand initiatives as well funding inorganic growth through acquisitions and other strategic initiatives and general corporate purposes.
The e-commerce firm will make its debut on the stock market on December 12.
Overall, 75% of the issue size has been reserved for qualified institutional buyers, 15% for non-institutional investors and the remaining 10% for retail investors.
Meesho is a technology platform that drives e-commerce by bringing together four key stakeholders -- consumers, sellers, logistics partners and content creators.
Explaining the company’s strategy, Aatrey, who is also MD and CEO, said the platform is focused on providing 'everyday low prices' to consumers.
He added that Meesho’s technology-first operations, platform scale and efficiency enable low-cost order fulfilment for sellers. Combined with a zero-commission model, this helps reduce the average fee charged to sellers and allows Meesho to offer a wide assortment from low-cost unbranded products to regional and national brands at affordable prices.
Aatrey noted that Meesho has become a destination for all kinds of purchases, from kitchen essentials to beauty and personal care products.
"Even users from other e-commerce platforms are coming to us because they find products more affordable here," he said.
Meesho initially filed confidential draft papers with Sebi in July and secured approval in October to launch the IPO. By opting for the confidential pre-filing route, the company could delay public disclosure of IPO details until later stages, a strategy increasingly adopted by Indian firms seeking flexibility in their IPO planning.
In FY25, Meesho connected over 5 lakh transacting sellers with 199 million annual transacting users, facilitating 1.8 billion placed orders. The company's Net Merchandise Value (NMV) grew 29 per cent year-on-year to ₹29,988 crore in FY25, following 21% growth in FY24.
In e-commerce, NMV refers to the cumulative checkout value of successfully delivered orders inclusive of taxes. It is a core measure of platform health as it reflects the strength of customer adoption and repeat usage, making it a key driver of revenue, margins, and cash flow across the ecosystem.
Financially, the company posted a net loss at ₹3,942 crore for FY25, primarily due to one-time exceptional items, including reverse flip tax and perquisite tax which were necessary for the company's transition to a public structure.
The company substantially narrowed its losses to ₹700.72 crore in the first half of FY26 from ₹2,513 crore a year ago.
Its revenues from operations rose to ₹5,577.54 crore in the six-month ended September 2025 from ₹4,311.29 crore a year-earlier.
