Meesho Secures Shareholder Approval to Raise ₹4,250 Crore via IPO

30 Jun 2025 , 04:45 PM

Bengaluru-based ecommerce firm Meesho has received formal clearance from its shareholders to raise up to ₹4,250 crore through a fresh primary share issue as part of its upcoming IPO, according to a company filing dated June 27.

The raise will include both:

• A primary equity issuance of up to ₹4,250 crore; and

• An offer-for-sale (OFS) component, where existing shareholders may sell their stake in conjunction with the IPO.

The resolution was passed during an extraordinary general meeting (EGM) held recently. In the same session, shareholders also approved a leadership change: Vidit Aatrey, the company’s co-founder and CEO, was appointed as Chairman and Managing Director.

A significant move came earlier this month when Meesho shifted its legal base from the U.S. to India. After completing this reverse-domicile change, the company plans to file its Draft Red Herring Prospectus under SEBI’s confidential route an indication that details about pricing and timing will remain under wraps until closer to the actual filing.

Major backers such as Elevation Capital, Peak XV Partners, Prosus, and SoftBank each with approximately 10–15% ownership are expected to participate in the IPO through the OFS portion, according to filings. Meesho’s management is now preparing the formal DRHP submission to SEBI, marking a key step towards its eventual debut on the Indian stock exchanges.

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