Overview

• Meesho completed its reverse flip on June 23 by merging its Delaware-based unit into its Indian arm.
• The redomiciling process will trigger a tax bill of roughly $288 million to $300 million in the United States.
• The company is set to file its DRHP within weeks and aims to raise $700 million to $800 million with lead bankers including Morgan Stanley, Kotak Mahindra Capital and Citigroup.
• In fiscal 2024, Meesho’s operating revenue rose 33 percent to ₹7,614.9 crore as losses narrowed by 82 percent to ₹304.9 crore.
• The move follows a broader pattern of Indian startups such as PhonePe and Flipkart shifting domicile back to India before their public listings.