Meesho Ltd. is preparing for a public listing in early December and is aiming for a valuation close to fifty three thousand crore rupees, which comes to roughly six billion dollars. The company is positioning itself among several Indian firms rushing to take advantage of the strong momentum in the country’s IPO market.
According to information shared with Bloomberg News by people familiar with the matter, Meesho has been holding discussions with SBI Funds Management regarding a possible pre IPO investment. These individuals, who asked not to be identified because the talks are private, said that such a placement could change the final size of the public offering. The IPO was initially expected to be around six thousand crore rupees, although that figure may shift as the conversations continue.
Those familiar with the situation also suggested that the timelines and overall structure of the deal are still being negotiated, meaning nothing is fully finalised yet. Both Meesho and SBI Mutual Fund have not responded to requests for comment, and the details have not been independently confirmed by HT dot com.
Based on the draft red herring prospectus filed by Meesho, the IPO will include a fresh issue of shares worth forty two thousand five hundred crore rupees, along with an offer for sale of more than seventeen crore shares by current investors. The company reported free cash flow of one thousand thirty two crore rupees in the financial year that ended on March thirty first, twenty twenty five, which is the highest figure recorded among India’s publicly listed e commerce players.
The deal is being advised by Kotak Mahindra Capital, Axis Bank, and the Indian branches of JPMorgan Chase, Morgan Stanley, and Citigroup, all of whom are named in the draft prospectus.
Meesho, known especially for its strong user base in India’s smaller cities and towns, is joining a wave of companies turning toward public markets at a time when investor interest in Indian listings is exceptionally high. Data compiled by Bloomberg shows that domestic firms have already raised nearly nineteen and a half billion dollars this year, following an unprecedented twenty one billion dollars in twenty twenty four.
