Meesho Targets $5.6 Billion Valuation as It Launches IPO Next Week
Indian e-commerce platform Meesho is gearing up for its highly anticipated initial public offering, seeking a valuation of up to 501 billion rupees ($5.6 billion). The Bengaluru-based company, backed by SoftBank, has set a price band of 105–111 rupees per share, with the three-day share sale scheduled to open on December 3. Anchor investors can place their bids a day earlier, on December 2, while the company’s shares are expected to debut on Indian stock exchanges on December 10.
At the top end of the price range, Meesho’s IPO aims to raise approximately 54 billion rupees ($604 million). Of this, 42.5 billion rupees will come from newly issued shares, which the company plans to invest in cloud infrastructure, its tech operations, and general corporate needs. Existing shareholders, including Elevation Capital and Peak XV Partners, will sell 105.5 million shares, a reduced portion compared to their earlier plan of 175.7 million shares. Notably, SoftBank will not offload any shares in the offering.
Meesho’s listing comes amid a booming domestic IPO market that is on track to surpass last year’s record $20.5 billion in public offerings. The company, known for its strong presence in India’s smaller cities and value-focused customer base, is positioning itself against major players like Amazon and Walmart-owned Flipkart. Its IPO follows recent listings by other tech-driven firms such as Groww, Lenskart, and PhysicsWallah, as India continues to experience significant momentum in the tech and e-commerce sectors.
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