Overview

• The NCLT Bengaluru Bench issued its final order on June 16 clearing Meesho’s composite scheme to demerge Meesho Inc. and merge with the Indian entity.
• As part of the reverse flip, Meesho faces a $288 million tax payment to US authorities.
• The company’s board has approved its conversion into Meesho Limited in preparation for a public listing.
• Meesho has appointed Morgan Stanley, Kotak Mahindra Capital and Citi to manage its planned $1 billion IPO.
• In fiscal 2024, Meesho’s operating revenue grew 33 percent to ₹7,614.9 crore while losses narrowed by 82 percent to ₹304.9 crore.