The Indian e-commerce scene is buzzing as Meesho Ltd. gears up for a significant initial public offering, aiming to raise up to 54 billion rupees ($605 million). This IPO is poised to open on December 3, making waves in the fashion and tech domain.
Backed by the influential SoftBank Group, Meesho plans to price its shares around 111 rupees each, landing at the upper end of their anticipated price range. This move values the company at about $5.9 billion, according to insights from informants who prefer to remain anonymous due to the sensitive nature of this information. The offering will wrap up on December 5, cranking up excitement among retail investors.
Despite multiple outreach attempts, a Meesho spokesperson has yet to comment on this listing.
As an online marketplace that has gained traction particularly in smaller Indian cities, Meesho is part of a larger trend where Indian companies are engaging with a booming IPO market. So far in 2024, Indian firms have successfully raised nearly $19.5 billion, following an impressive $21 billion the previous year, as reported by Bloomberg.
The IPO journey of Meesho receives guidance from prominent financial advisors, including Kotak Mahindra Capital Co., Axis Bank Ltd., and the local branches of JPMorgan Chase & Co., Morgan Stanley, and Citigroup Inc., as stated in the prospectus.
