Overview

• The Bengaluru-based social commerce platform has submitted its draft red herring prospectus to SEBI under the confidential route to raise around Rs 4,250 crore.
• The IPO structure includes a fresh equity issuance and a secondary offer-for-sale by existing investors, with founders Vidit Aatrey and Sanjeev Barnwal maintaining their shareholdings.
• Shareholders approved the IPO resolution and a revamped board composition at an Extraordinary General Meeting on June 25, paving the way for its market debut.
• Meesho completed its reverse flip redomiciliation from the United States to India in mid-June, aligning its legal domicile with its core operations.
• In FY2023-24, the company grew revenue by 33% to Rs 7,615 crore and narrowed adjusted losses by 97% to Rs 53 crore, underscoring improved unit economics.