Mumbai: Buckle up, investors — India’s e-commerce disruptor Meesho is charging towards a blockbuster IPO, with market watchdog SEBI granting the nod for a whopping ₹6,600 crore raise.
This stamp of approval catapults the Bengaluru-based phenom into the league of new-age unicorns eyeing public markets, paving the way for a December listing that could redefine retail fortunes for small-town shoppers.
The IPO splits into fresh firepower and savvy exits: ₹4,250 crore in new equity to fuel Meesho’s growth war chest, with the rest via Offer-for-Sale (OFS). Early backers like Elevation Capital and Peak XV Partners, alongside founders CEO Vidit Aatrey and CTO Sanjeev Barnwal, will cash in some stakes — a classic payday for visionaries who bet big on Tier-2 and beyond.
Financials tell a tale of grit amid glamour. FY25 clocked a ₹3,941 crore net loss, chalked up to one-off hits like IPO prep costs, reverse-flip taxes from US to India, and restructuring perks. Peel those away, and the shine dazzles: operating revenue surged 25% to ₹9,390 crore, while net merchandise value rocketed 30% to ₹30,000 crore. Annual transacting users swelled 28% to 213 million in Q1 FY26, with repeat orders jumping from 7.5 to 9.2 per customer — proof that Bharat’s heartland is hooked.
Meesho’s secret sauce? Its logistics beast Valmo, launched last February, handled 61% of orders and 300 million shipments in April-June, outpacing giants like Delhivery. As Bain & Company notes, three in five new online buyers hail from Tier-3+ towns — territory Meesho owns.
This IPO isn’t just a listing; it’s a launchpad for inclusive e-tail. Will it light up Dalal Street like Diwali fireworks?