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Meesho eyes $6-billion valuation in IPO set for early December launch
Meesho is is talks with SBI Funds for a pre-IPO placement, which could alter the IPO size estimated at ₹6,000 crore.
Meesho Ltd. is seeking a valuation of about ₹53,000 crore (about $6 billion) in its IPO scheduled for early December, joining a growing list of firms tapping into India’s booming IPO market.
The SoftBank Group Corp.-backed e-commerce firm is in talks with SBI Funds Management Ltd. for a pre-IPO placement, Bloomberg News reported on Friday, citing people aware of the development. They requested anonymity since the information is private. The potential placement could alter the IPO size, estimated at about ₹6,000 crore, they said.
Deliberations are ongoing, and details including timing and deal size could still change, the people said. Representatives for Meesho and SBI Mutual Fund did not immediately respond to requests for comment. HT.com has not independently verified this information.
The Meesho IPO will comprise a fresh issue of shares worth ₹42,500 crore and an offer for sale of 17.57 crore shares by existing investors, according to the company's draft red-herring prospectus. The company generated ₹1,032 crore in free cash flow in the fiscal ended 31 March 2025—the highest among listed e-commerce firms in India.
Kotak Mahindra Capital Co. Ltd., Axis Bank Ltd., and local units of JPMorgan Chase & Co., Morgan Stanley and Citigroup Inc. are advising on the IPO, according to the prospectus.
Meesho, which is popular in smaller Indian cities, joins a growing list of companies tapping into India’s booming IPO market. Firms have already raised nearly $19.5 billion this year, following a record $21 billion in 2024, according to data compiled by Bloomberg.
