Bengaluru-based e-commerce platform Meesho is advancing its plans for a US $ 1 billion initial public offering (IPO), setting its sights on a listing during the Diwali festival period this year, as per a report. The company has enlisted Morgan Stanley, Kotak Mahindra Capital, and Citi as financial advisors for the IPO, with these bankers suggesting a potential valuation of US $ 10 billion, a significant increase from its previous US $ 3.9 billion valuation in 2024. Discussions are underway to potentially add JPMorgan to the IPO syndicate.
Meesho, known for empowering small businesses and individual entrepreneurs, is expected to file its draft IPO documents in the coming weeks. However, before proceeding, the company must complete its relocation of headquarters from Delaware to India, a process reportedly in its final stages. This reverse merger is anticipated to result in approximately US $ 3.6 million in tax payments.
The company’s financial performance shows substantial growth. Meesho’s operating revenue increased by 33 per cent to approximately US $ 91.7 million in the latest fiscal year, up from approximately US $ 69.1 million in the previous year. Simultaneously, adjusted losses were dramatically reduced by 97 per cent, falling to approximately US $ 0.63 million from approximately US $ 18.9 million. The platform has seen a surge in user engagement, with 145 million unique annual transacting users and a notable increase in order frequency, particularly from non-metro regions.
Meesho is aiming for sustained profitability, with potential projections indicating profitability for a full fiscal year by FY ’25 or FY ’26. The company’s expansion, particularly in Tier 3 cities, has significantly bolstered its market share, positioning it for its planned public offering.
Bharat Tex Special Report 2026 
