Meesho Takes Confidential Route, Files for $1 Billion IPO

With its DRHP submitted to markets regulator SEBI under the confidential pre-filing procedure, e-commerce giant Meesho has joined the long line of Indian new-age digital businesses seeking to go public.

According to various media reports, Meesho's public offering will include a new offering of shares valued at roughly INR 4,250 Cr. Additionally, there would be a large offer for sale component, raising the potential IPO amount to $1 billion (about INR 8,550 Cr).

This occurs one week after Meesho received approval from its board to fund up to INR 4,250 Cr (about $500 million) through a new public listing issue.

 Meesho, one of the major participants in the Indian e-commerce business and a rival to Amazon and Flipkart, was founded in 2015 by IIT alums Vidit Aatrey and Sanjeev Barnwal. Among its investors are companies like Facebook, Prosus, Elevation Capital, Peak XV Partners, Tiger Global Management, and DST Partners.

Meesho’s IPO Planning

For more than two years, the e-commerce company has been preparing for its initial public offering. Cofounder and CEO Aatrey stated in 2022 that Meesho aimed to go public on the stock exchanges within the next 12 to 24 months. It did not, however, move forward with the IPO during that time.

In December 2024, when Prosus made public an 18-month schedule for the company's IPO, the IPO discussion resumed. Last month, it also changed its name from Meesho Private Limited to Meesho Limited, becoming a public business.

The board of the corporation approved the issuance of 411.4 Cr bonus shares at about the same time. Tiger Global, Think Investments, and Mars Growth Capital were among the new investors who joined Meesho's cap table in January as the company finalised a $250 million to $270 million investment round ahead of filing its DRHP.

Secondary deals made up the majority of the round. After the National Company Law Tribunal (NCLT) gave its clearance, the company recently moved its headquarters from the USA to India.

In terms of finances, Meesho was able to reduce its loss from INR 1,675 Cr in FY23 to INR 304.9 Cr in the fiscal year that concluded on March 31, 2024, an 82% reduction. Operating revenue increased from INR 5,734.5 Cr in FY23 to INR 7,614.9 Cr, a 33% increase.

India’s IPO Trend

Indian new-age tech companies are lining up in large numbers to submit their draft papers at the same time as Meesho's submission. In addition to Meesho, four other businesses submitted their DRHPs in the last week.

But in the first half of 2025, the IPO pace was slowed by global tensions and the tariff war that US President Donald Trump started. Because of this, in H1 2025, just two cutting-edge IT companies—ArisInfra and Ather Energy—debuted on the public market.

Nonetheless, it is anticipated that the number of IPOs will rise significantly in the second half of the year. Wakefit, Pine Labs, Curefoods, Capillary Technologies, Shadowfax, Shiprocket, and Urban Company are among the cutting-edge tech firms that have submitted their draft papers to SEBI and are currently seeking approval to begin their public offerings.