Meesho, an Indian e-commerce company, has taken its first major step toward going public by filing confidential documents for an initial public offering (IPO), according to reports. The company intends to raise approximately Rs 4,250 crore (approximately $497.30 million) in new funds through this share sale.

Key Highlights

• Meesho confidentially filed IPO papers aiming to raise ₹4,250 crore via fresh capital issuance.
• Shareholders approved the ₹4,250 crore IPO; listing expected in September‑October after DRHP confidential filing.

Some of the company's current investors will also sell a portion of their stake, though no further details are available. According to a document filed with the Registrar of Companies, Meesho has already received approval from its shareholders for this IPO plan. If all goes well, Meesho hopes to list its shares by September or October of this year.

Meesho is a well-known name in India's growing e-commerce market, competing with major players such as Amazon and Flipkart. It is supported by well-known global investors such as Prosus, Elevation Capital, WestBridge Capital, SoftBank, and Peak XV Partners.

The confidential filing enables Meesho to solicit feedback from market regulators without disclosing its financial information and business strategies too soon. This method is used by many companies to protect sensitive information before it is publicly traded. Groww and Shadowfax recently filed confidential papers for their respective IPOs.

Also Read: Meesho Prepares for USD 1 Bn IPO, Taps Morgan Stanley, Citi as Advisors

Meesho's business has grown rapidly. In fiscal year 2024, its revenue increased by 33% to Rs 7,615 crore. The good news for investors is that the company's losses have also dropped sharply, from Rs 1,675 crore last year to just Rs 305 crore this year, indicating that it is better controlling costs.

After a slow start to the year due to global tensions, India's IPO market is back on track. According to LSEG data, Indian IPOs raised $5.86 billion by the end of June, accounting for approximately 12% of total IPO funds raised globally this year.

There is also more excitement ahead. According to PRIME Database, up to 143 IPOs worth a total of $26 billion are in the works.With this move, Meesho could become one of the most closely watched companies to go public this year, providing investors with another major homegrown tech brand to bet on.